Tata Motors and Mahindra & Mahindra have signed Memoranda of Understanding (MoUs) with the Maharashtra government to roll out 1,000 Electric Vehicles (EV) in the state. These EVs will be available in both the passenger and commercial markets.
Tata Motors has also partnered with Tata Power to set up EV charging stations. Earlier, Mercom reported that Tata Power is developing two EV charging stations at Mumbai’s Bandra Kurla Complex (BKC) and the Western Express highway at Borivali.
In December 2018, Tata Motors rolled out its first batch of EVs for the public sector joint venture, Energy Efficiency Services Limited (EESL).
Mahindra & Mahindra has also signed two MoUs with the Maharashtra government. The first deals with its expansion of the Chakan plant to manufacture EVs, e-motors, controllers, and battery packs for a cost of ₹5 billion (~$0.047 billion). Under the second MoU, it will launch a total of 1,000 electric cars over the next one year in all the important cities of Maharashtra, with the help of fleet partners, taxi aggregators, and logistics companies.
Recently, the Maharashtra state government cabinet gave its nod to the state’s Electric Vehicle Policy 2018. Under the policy, an enabling environment for the manufacture of 500,000 EVs in the state will be created within the next five years. This MoU will help in achieving this target.
According to a recent ASSOCHAM-EY report, The EV market is expected to grow in the double digits until the year 2020 as stricter emission norms are implemented on petrol and diesel vehicles.
In another study, Niti Aayog and the Rocky Mountain Institute highlighted the staggering potential of India’s EV market. It found that India could account for more than one-third of the global market for EV batteries by 2030 if it were to become a 100 percent EV nation.
Last year, the Indian government announced its plan to provide up to ₹1.05 billion (~$16.2 million) in grant funding to Smart Cities for the purchase of EVs to be used for mass transportation as part of a pilot project under the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles in India (FAME) program.