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India.com
11 hours ago
- Automotive
- India.com
Tesla India Leases Rs 25 Crore Space In Mumbai To Set Up Service Centre
Mumbai: Tesla India Motor and Energy Private Ltd has leased a 24,500-square-foot space in Mumbai's Kurla West to set up a service centre, located close to its upcoming showroom in the Bandra Kurla Complex (BKC). This move marks a significant step in Tesla's plans to enter the Indian electric vehicle (EV) market, although the company does not currently intend to manufacture vehicles in the country. According to real estate documents sourced by CRE Matrix, a property data analytics firm, Tesla has signed a lease and license agreement with Bellissimo in City FC Mumbai I Private to rent the space in Lodha Logistics Park. The agreement is for a five-year period, with a starting monthly rent of Rs 37.53 lakh. Over the duration of the lease, Tesla will pay nearly Rs 25 crore in total, including a security deposit of Rs 2.25 crore, as per the documents. Tesla has made it clear that its current interest lies only in selling its vehicles in India, not in manufacturing them at the moment. 'They are not interested in manufacturing in India,' Union Heavy Industries Minister H.D. Kumaraswamy said on Monday. He added that Tesla is planning to open showrooms in India purely for sales. The minister was speaking at a press conference announcing that India's flagship EV policy is now open for global carmakers who wish to manufacture and sell EVs in the country. Major players such as Germany's Mercedes-Benz and Volkswagen, along with South Korea's Hyundai Motor, have already shown interest. All three companies currently have manufacturing operations in India. Hyundai has announced its plans to make India its global hub for EVs. Volkswagen India, meanwhile, is closely watching how the EV policy unfolds and is carefully evaluating its implications before taking further steps. The government has notified guidelines for its forward-looking scheme to enable fresh investments from global manufacturers in the electric cars segment and promote India as a global manufacturing hub for e-vehicles.
India.com
12 hours ago
- Automotive
- India.com
Tesla India Leases Rs 25 Crore Service Centre In Mumbai
Mumbai: Tesla India Motor and Energy Private Ltd has leased a 24,500-square-foot space in Mumbai's Kurla West to set up a service centre, located close to its upcoming showroom in the Bandra Kurla Complex (BKC). This move marks a significant step in Tesla's plans to enter the Indian electric vehicle (EV) market, although the company does not currently intend to manufacture vehicles in the country. According to real estate documents sourced by CRE Matrix, a property data analytics firm, Tesla has signed a lease and license agreement with Bellissimo in City FC Mumbai I Private to rent the space in Lodha Logistics Park. The agreement is for a five-year period, with a starting monthly rent of Rs 37.53 lakh. Over the duration of the lease, Tesla will pay nearly Rs 25 crore in total, including a security deposit of Rs 2.25 crore, as per the documents. Tesla has made it clear that its current interest lies only in selling its vehicles in India, not in manufacturing them at the moment. 'They are not interested in manufacturing in India,' Union Heavy Industries Minister H.D. Kumaraswamy said on Monday. He added that Tesla is planning to open showrooms in India purely for sales. The minister was speaking at a press conference announcing that India's flagship EV policy is now open for global carmakers who wish to manufacture and sell EVs in the country. Major players such as Germany's Mercedes-Benz and Volkswagen, along with South Korea's Hyundai Motor, have already shown interest. All three companies currently have manufacturing operations in India. Hyundai has announced its plans to make India its global hub for EVs. Volkswagen India, meanwhile, is closely watching how the EV policy unfolds and is carefully evaluating its implications before taking further steps. The government has notified guidelines for its forward-looking scheme to enable fresh investments from global manufacturers in the electric cars segment and promote India as a global manufacturing hub for e-vehicles.
Mint
5 days ago
- Automotive
- Mint
New Delhi is promoting hybrid cars on par with electric, upsetting EV makers
India's leading electric car makers–Tata Motors Ltd, Mahindra and Mahindra Ltd, and Hyundai Motor India Ltd–are up in arms over the Delhi state government's draft paper proposing equal incentives for hybrid cars and electric vehicles (EVs), according to four people aware of the matter. A crucial meeting to discuss the issue is scheduled to be held in Niti Aayog on 30 May, the people cited above said on condition of anonymity. Whether to incentivize hybrid cars on par with EVs will be discussed at New Delhi's premier think tank, they said. This comes after a contentious draft proposal by the Delhi government, shared with automakers on 22 April, suggested waiving off road tax and registration fee for both technologies. Currently, the benefits are given only to EVs. The proposal has sparked strong opposition from pure EV manufacturers, who argue that hybrids, which run on conventional fuel and electric motors, should not receive the same benefits as pure EVs that solely rely on an installed battery. What has riled the EV makers further is a 2 May advisory by the commission for air quality management in NCR (CAQM) encouraging public departments–of both central and state governments–to buy clean fuel cars, including EVs, hybrid and CNG vehicles, among others. 'Strong Hybrid Electric Vehicles (SHEV) offer substantial improvements in fuel efficiency and emission reduction as compared to conventional diesel/petrol vehicles," the advisory reads. Also read | Honda scales back pure electric vehicle ambitions as focus turns to hybrid cars The EV makers have flagged their concern with the Union ministry of heavy industries (MHI), the nodal body for EV schemes, and the central government's think tank Niti Aayog over the policy's proposal, the persons cited above said. 'Hybrid is an old technology. Although customers are free to decide what technology they want to opt for, the automakers do not want hybrids to be incentivised just like EVs," said the first person. 'This discourages investments into pure electric vehicles." Earlier, on 14 May, the carmakers rushed to MHI to raise their concerns with Union heavy industries minister H.D. Kumaraswamy. After the meeting, most of them are said to have written letters detailing their concerns regarding the policy stance of the national capital administration to the ministry, according to the people mentioned above. Further, the minister tweeted post the meeting saying that it was to discuss India's clean mobility roadmap. However, the people cited above said that the agenda was the automakers' objection to inclusion of other technologies under the definition of 'clean vehicles'. Industry players argue that hybrid vehicles have higher tailpipe emissions than pure EVs and, thus, should not be incentivised. Read this | Delhi plans incentives for hybrid cars, drives domestic carmakers into panic Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said in a written statement to Mint that the company believes government incentives should be directed toward technologies that require support to bridge a funding gap and accelerate innovation. 'Incentives are most effective when they help emerging technologies reach scale and maturity—particularly those that contribute meaningfully to long-term sustainability goals of zero emissions, such as EVs," Chandra said. The ministry of heavy industries, Hyundai India, Mahindra, Kia, and Niti Aayog did not respond to Mint's emailed queries till press time. Not just Delhi To be sure, state governments across the country have started introducing special policies focused on increasing EV penetration. So far, Uttar Pradesh, Delhi and Maharashtra have floated their policies, with only Delhi and UP proposing incentives for hybrids as well. While Delhi's policy still remains in draft, Maharashtra and UP have notified their guidelines. In FY25, the country sold over 107,000 electric cars, a growth of 18% compared to the year-ago period. As for hybrids, about 83,000 strong hybrid cars were sold in the country during the same period, as per the government's Vahan vehicle registration dashboard. Tata Motors, Mahindra and Hyundai currently offer only pure EVs along with their conventional fuel models. On the other hand, Maruti Suzuki and Toyota Kirlosokar have hybrid and internal combustion vehicles. Maruti is slated to launch its EVs later this year, but will mostly export its models due to tepid consumer demand in the country. Also read | EVs hit with falling resale value as consumer demand cools Rahul Bharti, executive director at Maruti Suzuki, told Mint that EV penetration in India is currently less than 3%, and even in the US and Europe, it is 8% and 12%, respectively. 'While all efforts are to maximize this 3%, we cannot say we will do nothing about the balance 97%," Bharti said. He added that the purpose and effect of strong hybrids is to replace pure diesel or petrol vehicles because they increase energy efficiency by 36-44% and reduce CO2 by 25-31% over petrol vehicles. 'Data shows wherever SHEV incentives have been given, EV sales have not reduced but increased," he said. 'We want both EV and SHEV sales to grow." Emailed queries sent to Toyota on Thursday afternoon remained unanswered till press time. Experts divided Experts are divided over the issue, with some putting their weight behind EVs and others rooting for leveraging hybrids on the path to full electrification. Sharif Qamar, associate director of transport and urban governance at The Energy and Resources Institute (Teri), a non-profit think tank, said incentives should be only for EVs. 'The objective of the EV policy is to cut down emissions of vehicles and also contribute to improving the air quality," he said. 'When it comes to the emission reduction objective, currently, only zero-tailpipe emission vehicles need to be prioritised. Incentives should be crafted to encourage players to move towards zero emission vehicles." Others like Nikhil Dhaka, policy lead at Primus Partners, don't agree. 'Delhi's proposals in the EV policy are balancing short-term practicalities like charging infrastructure challenges," he said, adding that leveraging hybrids in the short term can offer a realistic path to reducing pollution quickly even as adoption of clean fuel cars picks up. 'Manufacturers can invest in a broader mix of clean fuel technologies," Dhaka said. 'Limited charging infra, range anxiety and higher costs of battery electric vehicles are slowing down EV adoption currently." Analysts at HSBC Global Research in a 20 May note backed hybrids as a bridge to pure EVs. 'The latest trends reinforce our longstanding belief that India will remain a multipowertrain country for a prolonged period," the note stated. 'Hybrids, CNGs, and biofuels are practical medium- to long-term solutions, while the country moves towards eventual electrification." Read this | EV industry, government struggle to find alternatives as China throttles rare earth magnet supply A Deloitte study also showed that demand for hybrid vehicles remains high among Indian consumers. As per its 2025 Global Automotive Consumer Study, 33% of consumers surveyed said that they would prefer to purchase a hybrid vehicle as their next preferred powertrain. In comparison, only 8% consumers expressed preference for pure EVs. Some in the industry have argued that a lack of adequate charging infrastructure and concerns over resale value will hold back purchases of EVs by consumers. 'EVs sold today are not primary cars, but rather secondary," said Partho Banerjee, senior executive officer-marketing and sales, Maruti Suzuki India, during a media briefing on 1 April. 'Till the time we don't solve customer concerns on range, charging infrastructure, and post-sales, buyers will not have confidence." And read | Automakers rush to PMO, commerce ministry as Chinese magnet crisis set to spread beyond EVs, threatens production cuts
Mint
25-05-2025
- Automotive
- Mint
E-buses under PM E-drive to be used now for intercity, tourist travel
Inter-city routes and tourist trails may open up for electric buses which are now confined to cities under a central scheme, two people familiar with the plans said. The ₹10,900-crore PM E-Drive scheme rolled out in September 2024 to expand city transport may soon be expanded for this purpose, the people said on the condition of anonymity. On Friday, the government allotted 10,900 buses under the scheme, which aims at a total of 14,028 buses. 'The allotment announced on 22 May will first be tendered, followed by demand generation and tendering of more electric buses to remaining cities," one of the two people cited above said. 'Then more buses will be deployed for intercity purposes, and for some tourist destinations, for instance, hilly areas." The plan to permit electric buses for intercity travel and tourism purposes will be implemented after the competitive bidding for all cities is completed, the officials mentioned above said. Also read | Govt rushes to find demand for electric trucks under PM E-Drive after bare FY25 Under the scheme, nine cities with over 40 million people are eligible to receive subsidized e-buses, including New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Kolkata, Ahmedabad, Surat and Pune. On 22 May, heavy industries minister H.D. Kumaraswamy said Bengaluru will get 4500 electric buses, Hyderabad 2,000, Delhi 2,800, Ahmedabad 1,000, and Surat 600, in the first phase. Tendering of the first phase of buses allotted on 22 May will begin in 4-6 weeks, the second official said. Competitive bidding for the supply of the first phase of buses allotted on 22 May will begin in 4-6 weeks, the second official said. Incentives for each bus sold Typically, the cost of an electric bus is approximately ₹1 crore. Under the PM E-drive scheme, the Centre is planning to dole out a ₹20-35 lakh incentive for every electric bus sold. The development assumes importance as nearly 40% of the scheme is set aside for the rollout of 14,028 electric buses till FY26. Transport-related emissions in cities and along highways currently account for 10-15% of the pollution in our cities, said Viral Thakker, partner & leader - sustainability & climate, Deloitte South Asia. Also read | ARAI likely to plan division of auto testing agencies allocation 'There are several advantages of using buses for intercity travel - a large and efficient network of buses can replace cars and provide alternative transportation options to passengers. Electric buses are also a good addition to tourism locations as India looks to develop a number of sustainable tourism destinations," said Thakker. Subsuming schemes The PM E-drive scheme, announced in September 2024, subsumed the Electric Mobility Promotion Scheme (EMPS), which ran from April 2024 to September 2024. The EMPS and PM E-drive scheme came after a decade of electric mobility incentivization under two iterations of the FAME scheme. FAME stands for Faster Adoption and Manufacturing of Electric (and Hybrid) vehicles. The PM E-drive scheme, set to run for two years till the end of FY26, marked a change in the focus of incentivisation of electric mobility, as it focused on incentivising public transportation to become electric, along with a focus on sunrise sectors such as electric trucks and ambulances. It also incentivised electric two-wheelers and three-wheelers. The scheme mandates manufacturers to provide electric vehicles to consumers at a lower price. The government then reimburses manufacturers. Also read | More than 6 lakh electric 2, 3-wheelers sold under PM E-Drive scheme since April While electric two- and three-wheelers under the scheme are given direct incentives on purchase, the procedure to incentivize electric buses is little more complex. First, the government gathered demand for electric buses from state governments. After this, it finalized allocation to each city mentioned in the scheme. The next step is to conduct competitive bidding for such buses, where state transport utilities would bid for such buses and secure them at affordable rates.
Los Angeles Times
15-05-2025
- Business
- Los Angeles Times
Newsom proposes slashing funding to California newsrooms by $20 million citing budget issues
Gov. Gavin Newsom proposed slashing funding by 67% for a pioneering deal with Google to support struggling California newsrooms, citing financial pressures that have promoted wider budget cuts. California newsrooms had expected to receive $30 million from the state as part of a deal brokered last year in which Google and the state would jointly contribute money over five years to support local newsrooms through a News Transformation Fund. The state Dept. of Finance confirmed Wednesday that California, instead, will pay out $10 million for the 2025-26 fiscal year. 'The sole reason for the reduction is more limited/fewer resources than projected in the January budget,' Dept. of Finance spokesperson H.D. Palmer said. Newsom announced Wednesday that the state is facing an additional $12-billion budget shortfall next year. The revised $321.9-billion plan will also include a reduction in healthcare for low-income undocumented immigrants and a cut in overtime hours for select government employees. The deal was born out of negotiations that began with a proposed funding bill authored by Assemblymember Buffy Wicks (D-Oakland), known as the California Journalism Preservation Act. It would have required Google to pay into a fund annually that would have distributed millions to California news outlets based on the number of journalists they employ. The California News Publishers Assn., of which the Los Angeles Times is a member, backed the larger effort. It was designed to aid newspapers that have seen their finances collapse in recent years, leaving fewer journalists to cover institutions and communities. The proposal was modeled after a Canadian bill that has Google paying about $74 million per year. Google fought the bill, arguing its passage would force the company to remove California news from its platform, thus restricting access for Californians. Instead, the state and Google agreed in August to provide nearly $250 million to newsrooms over five years, starting in 2025, with funding slated for two projects. The second initiative was a $68 million pledge for Google to fund artificial intelligence in the form of a National AI Accelerator. The AI funding element of the deal drew sharp rebukes from Democratic lawmakers and journalists. California had pledged $30 million in 2025 and $10 million each of the next four years. Google agreed to an initial payment of $15 million in 2025 and $55 million in total into the journalism fund. Google also agreed to boost its own journalism programs with a separate $50 million grant.
