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E-vehicle Sector for Priority-lending, R&D Incentives in Budget

Major players in the electric vehicle space, include Hero Eco, Mahindra Reva, Electrotherm, Avon, Lohia and Ampere among others

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Audi
Audi unveils its first production all-electric vehicle, the e-tron sport utility vehicle, at an event in Richmond, Calif. VOA

With government committed to bringing the electric vehicle (EV) revolution to India in the next few years, the industry expectations from the Union Budget 2019-20 run high.

Among the key demands are priority-lending by PSU banks for purchase of EVs and raising government subsidy to push sales.

“Today, nobody is giving loans to electric vehicles. Some instruction should be given by the RBI to public sector banks for priority-lending to the EV sector. Then, a clean air campaign should be launched on the lines of Swachh Bharat to raise awareness,” Sohinder Gill, President, Society of Manufacturers of Electric Vehicles (SMEV) told IANS.

Gill said that the government does not need to provide financial assistance. By simply re-introducing the principle of “polluter pays”, it can levy a small green cess and raise funds.

Seeking tax incentives, the e-vehicle sector has argued that these would boost the government’s flagship manufacturing scheme Make in India and drastically cut down vehicular pollution in the country.

Electric Vehicles
The survey indicates very healthy awareness and potential willingness among the respondents to consider purchasing electric vehicles. Flickr

The Modi government wants to hasten the adoption of green vehicles. Its think tank Niti Aayog has put forward a plan to shift to e-mobility for two-wheelers (below 150 cc) and three wheelers by 2025.

“EVs shall serve the dual purpose of improving the health of the Indian economy by improving the manufacturing sector, generating employment as well as the environmental health of our country,” said Rakesh Nangia, Managing Partner, Nangia Advisors (Andersen Global).

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India has so far been rather slow in adopting green vehicles for reasons ranging from poor infrastructure, low speed to unaffordable prices. The share of electric vehicles out of total annual vehicle sales in the country is less than 1 per cent.

Major players in the electric vehicle space, include Hero Eco, Mahindra Reva, Electrotherm, Avon, Lohia and Ampere among others. (IANS)

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OnePlus to Make its Hyderabad R&D Centre Biggest Globally

The R&D facility will play a crucial role as OnePlus charts its roadmap towards adopting the Indian market as its home ground

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OnePlus
OnePlus best-selling, Samsung led premium segment in 2018.Flickr

Betting big on the cut-throat Indian smartphone market, Chinese handset maker OnePlus on Monday announced it has was working to grow its recently-opened Hyderabad facility into its biggest R&D centre globally in three years.

The facility will not only play a critical role in development of Artificial Intelligence (AI) and Machine Learning (ML) in OnePlus products but will also drive innovations that are centric and relevant to the company’s Indian community, the company said in a statement.

“In three years, we plan to grow the new R&D centre in Hyderabad into our biggest globally. We plan to re-focus our R&D efforts on a large scale and drive innovations in India for the global product, especially on the software side with special emphasis on AL and ML,” said Pete Lau, Founder and CEO, OnePlus.

The company said it would also leverage the ingenious talent from the city which is one of the biggest IT hubs in the country.

OnePlus 5 to get 'face unlock feature' via a software update
OnePlus. wikimedia commons

The R&D facility will play a crucial role as OnePlus charts its roadmap towards adopting the Indian market as its home ground.

“OnePlus is committed to achieving long-term growth in India, and with the commencement of operations at the new R&D centre, OnePlus seeks to integrate and delve deeper into the ‘Make in India’ strategy.

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“In line with the growing user base, we are in the process of expanding offline presence in the region. In fact, local fans can soon expect access to their very own OnePlus Experience Store,” the company said. (IANS)