April 2021

Lead Sponsor

monthlyupdates

HIGH PERFORMANCE

RANGE

Upto

Life cycle

OUR LITHIUM ION BATTERIES ARE MANUFACTURED WITH UTMOST CARE amp PASSES THROUGH

BEFORE REACHING YOU30+ QUALITY TESTS

1800-2121-321 bull waareewaareecom bull wwwwaareecom

Combustion test Acupuncture test Drop test Temperature cycling testThermal shock test

High EnergyDensity

Lightweight ampCompact Size

Fast amp EfcientCharging

High TemperaturePerformance

EXCLUSIVEFEATURES

3

Contents

1 New Product launches | 4

2 Tenders | 5

3 EV Sales trends | 6

4 Charging Infrastructure | 9

5 Policies and Regulations | 10

6 Investments | 11

7 Lithium-ion Import Trends | 13

8 Global Market Updates | 14

HIGH PERFORMANCE

RANGE

Upto

Life cycle

OUR LITHIUM ION BATTERIES ARE MANUFACTURED WITH UTMOST CARE amp PASSES THROUGH

BEFORE REACHING YOU30+ QUALITY TESTS

1800-2121-321 bull waareewaareecom bull wwwwaareecom

Combustion test Acupuncture test Drop test Temperature cycling testThermal shock test

High EnergyDensity

Lightweight ampCompact Size

Fast amp EfcientCharging

High TemperaturePerformance

EXCLUSIVEFEATURES

3

Contents

1 New Product launches | 4

2 Tenders | 5

3 EV Sales trends | 6

4 Charging Infrastructure | 9

5 Policies and Regulations | 10

6 Investments | 11

7 Lithium-ion Import Trends | 13

8 Global Market Updates | 14

3

Contents

1 New Product launches | 4

2 Tenders | 5

3 EV Sales trends | 6

4 Charging Infrastructure | 9

5 Policies and Regulations | 10

6 Investments | 11

7 Lithium-ion Import Trends | 13

8 Global Market Updates | 14

4

new ProduCt LaunChes1Product Vehicle

Type Battery Specs Other Specs Price

DAO Model 703 2-wheeler bull Range ndash 100 km bull Battery ndash 72V 30Ah (Li-ion)

bull Top speed ndash 70 kmhbull Motor ndash 3500 W BLDC Not unveiled

DAO Vidyut 106 2-wheeler bull Range ndash 80 km bull Battery ndash 60V 1523Ah (Li-ion)

bull Top speed ndash 25 kmhbull Motor ndash 250W Not unveiled

DAO Vidyut 108 2-wheeler bull Range ndash 80 km bull Battery ndash 60V 1523Ah (Li-ion)

bull Top speed ndash 25 kmhbull Motor ndash 250W Not unveiled

DAO ZOR 405 2-wheelerDelivery

bull Range ndash 70 km bull Battery ndash 60V 23Ah (Li-ion)

bull Top speed ndash 45 kmhbull Motor ndash 2100W Not unveiled

Kabira Mobility Hermes 75

2-wheeler delivery

bull Range ndash 120 km bull Battery ndash 24kWh (Li-ion)

bull Top speed ndash 80 kmhbull Motor ndash 2500W Rs 89600

Joy e-Bike Sky-line 2-wheeler bull Range ndash 110 km

bull Battery ndash 736V 72Ah (Li-ion)bull Top speed ndash 90 kmhbull Motor ndash 5000W Rs 229000

Joy e-Bike Hurri-cane 2-wheeler bull Range ndash 750 km

bull Battery ndash 736V 54Ah (Li-ion)bull Top speed ndash 90 kmhbull Motor ndash 5000W Rs 233000

Joy e-Bike Thun-derbolt 2-wheeler bull Range ndash 110 km

bull Battery ndash 736V 72Ah (Li-ion)bull Top speed ndash 90 kmhbull Motor ndash 5000W Rs 233000

Joy e-Bike Beast 2-wheeler bull Range ndash 110 km bull Battery ndash 736V 72Ah (Li-ion)

bull Top speed ndash 90 kmhbull Motor ndash 5000W Rs 242000

Geliose Mobility Hope 2-wheeler bull Range ndash 50km75km

bull Battery ndash 48V 18Ah24Ah30Ahbull Top Speed ndash 25kmhrbull Motor ndash 250 W Rs 46999

Product Vehicle Type Known Revealed specs Expected Launch Date

Ola Scooter 2-wheeler bull Range ndash 150 km July 2021

Tesla Model 3 4-wheeler bull Battery- 50kWh75kWh82kWhbull Range- 508km628km657km June 2021

Tesla Model S 4-wheeler bull Battery- 75kWh81kWhbull Range- 668km663km July 2021

Tesla Model X 4-wheeler bull Battery- 75kWh81kWhbull Range- 580km547km January 2022

Table 11 India Launches - April 2021

Upcoming Launches

5

Product Vehicle Type Known Revealed specs

Establishment of Electric Vehicle (EV) charging station at Mumbai Central (MMCT) station of Mumbai Division for a

period of 5 (Five) years

7 May 2021 By 3 pm Rs 1404627

Tenders

2tenders

6

The registered EV sales in April 2021 is at a 5-month low with sales at 14146 units Although the m-o-m fall in sales is approx 46 the registrations increased y-o-y by 1470 As of April 2021 the total sales of registered EVs in India is ~690000 units

eV saLes trends

Fig 31 Registered EV sales in India trend amp region-wise (Jan 2020 ndash Apr 2021)

Source Vahan Dashboard JMK ResearchNote Sales figures represent EVs registered across 1287 RTOs in 33 states UTs

3

Among all the states and UTs Uttar Pradesh continues to have maximum monthly registered EV sales with 22 of overall sales in India in April-2021 Tamil Nadu has the 2nd highest sales at 14 share followed by Karnataka (13) Delhi amp Rajasthan (8 each)

Fig 32 (State UT) Region-wise registered EV sales - April 2021

Source Vahan Dashboard JMK ResearchNote Sales figures represent EVs regis-tered across 1287 RTOs in 33 states UTs

0

3000

6000

9000

12000

15000

18000

21000

24000

27000

30000

Apr-21

Mar-21

Feb-21

Jan-21

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

Jul-2

0Ju

n-20

May-20

Apr-20

Mar-20

Feb-20

Jan-20

EV S

ales

16435 16149

13626

901 1277

62087512

8119

10673

10897

1285814978 14146

16212

19111

26073

Uttar Pradesh 22

Delhi 8Karnataka 13

Kerala 4

Rajasthan 8

Assam 4

Maharashtra 7

Tamil Nadu 14

Bihar 5

Others 15

APRIL 2021sales

14146 units

7

High-Speed Electric Two-Wheel-er (HS-E2W)

Source Vahan Dashboard JMK ResearchNote Sales figures are for only high range E2W models with speed higher than 25kmph Sales figures represent E2Ws registered across 1287 RTOs in 33 states UTs

The cumulative sales of Ampere Ather Hero Electric Okinawa and Revolt in April 2021 for the HS-E2W category is 3600+ units This is ~58 lower than Mar-21 sales The y-o-y rise however of the 5 players in the corresponding segment is 54X

Fig 33 Player-wise high-speed E2W sales trend

0

600

1200

1800

2400

3000

3600

4200

4800

5400

6000

Apr-21

Mar-21

Feb-21

Jan-21

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

Jul-2

0Ju

n-20

May-20

Apr-20

Mar-20

Feb-20

Jan-20

Hig

h Sp

eed

E2W

Sal

es

Others

Revolt

AmpereAtherOkinawa

Hero Electric

8

Sales trend of cargo E3W and passenger E3W

The sales of registered E3Ws (both passenger and cargo-type) in April 2021 is the lowest in 7 months At 7567 units it has declined m-o-m by ~46 The share of cargo-type E3W in the combined E3W sales for Apr-2021 has fallen to 98 from 19 of the previous month

Electric Three Wheelers (E3W)

Source Vahan Dashboard JMK ResearchNote Sales figure represent E3Ws registered across 1287 RTOs in 33 states UTs

0

2000

4000

6000

8000

10000

12000

14000

Apr-21

Mar-21

Feb-21

Jan-21

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

Jul-2

0Ju

n-20

May-20

Apr-20

Mar-20

Feb-20

Jan-20

Num

ber o

f Veh

icle

s re

gist

ered

E3W - Cargo E3W - Passenger

5175

4124

331 460

5065

564578

12550

12781

9937

46756

759 56930

331

6797

6925

7477

8898

9775

9794

6823

11423

625 647 691 831 653 744

21682677

9

Stakeholder(s) Player(s) Subject Scope Description

Andhra Pradesh State Govt EESL and SECI

Setting up EV Charging stations along National and State Highways in Andhra Pradesh

bull State government of Andhra Pradesh along with EESL and SECI will set up EV charging stations along the National and State Highways

bull Andhra Pradesh will set up 400 charging stations in 73 locationsbull Vijayawada Vishakhapatnam and Tirupati will be declared model

mobility cities with phase-wise goals to adopt EV charging infra and new EV enabling building codes

Ola ElectricSetting up Ola E2W Charging infrastructure across India

bull Plans to set up the worldrsquos largest E2W charging network - Ola Hypercharger Network

bull Network size - gt100000 charging points across 400 citiesbull 1st year plan - 5000 charging points in 100 cities bull Estimated Project Investment - USD 2 billion over a period of 5

yearsbull Network accessible to only Ola customers

BluSmart Mobility EV Charging Infrastructure in Delhi

bull BluSmart Mobility has announced that it will install 130 charging stations across Delhi in public parking spaces

bull These points will have fast-chargers that can complete EV charging in 90 minutes

bull These stations will be open to the public on a pay-per-use basis

Siemens and Switch Mobility

Collaboration in the commercial EV segment

bull Siemens and Hinduja Grouprsquos Switch Mobility have signed an MoU to collaborate in the commercial EV segment

bull While Switch Mobility would bring in its electric commercial vehicles into India Siemens would provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers

Ather Energy EV Charging Point Installation

bull Ather Energy has set up 10 charging points across Mumbai and will set up 30 more by next year

bull These points have been set up in collaboration with startup Park+

4Charging infrastruCture

7

High-Speed Electric Two-Wheel-er (HS-E2W)

Source Vahan Dashboard JMK ResearchNote Sales figures are for only high range E2W models with speed higher than 25kmph Sales figures represent E2Ws registered across 1287 RTOs in 33 states UTs

The cumulative sales of Ampere Ather Hero Electric Okinawa and Revolt in April 2021 for the HS-E2W category is 3600+ units This is ~58 lower than Mar-21 sales The y-o-y rise however of the 5 players in the corresponding segment is 54X

Fig 33 Player-wise high-speed E2W sales trend

0

600

1200

1800

2400

3000

3600

4200

4800

5400

6000

Apr-21

Mar-21

Feb-21

Jan-21

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

Jul-2

0Ju

n-20

May-20

Apr-20

Mar-20

Feb-20

Jan-20

Hig

h Sp

eed

E2W

Sal

es

Others

Revolt

AmpereAtherOkinawa

Hero Electric

8

Sales trend of cargo E3W and passenger E3W

The sales of registered E3Ws (both passenger and cargo-type) in April 2021 is the lowest in 7 months At 7567 units it has declined m-o-m by ~46 The share of cargo-type E3W in the combined E3W sales for Apr-2021 has fallen to 98 from 19 of the previous month

Electric Three Wheelers (E3W)

Source Vahan Dashboard JMK ResearchNote Sales figure represent E3Ws registered across 1287 RTOs in 33 states UTs

0

2000

4000

6000

8000

10000

12000

14000

Apr-21

Mar-21

Feb-21

Jan-21

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

Jul-2

0Ju

n-20

May-20

Apr-20

Mar-20

Feb-20

Jan-20

Num

ber o

f Veh

icle

s re

gist

ered

E3W - Cargo E3W - Passenger

5175

4124

331 460

5065

564578

12550

12781

9937

46756

759 56930

331

6797

6925

7477

8898

9775

9794

6823

11423

625 647 691 831 653 744

21682677

9

Stakeholder(s) Player(s) Subject Scope Description

Andhra Pradesh State Govt EESL and SECI

Setting up EV Charging stations along National and State Highways in Andhra Pradesh

bull State government of Andhra Pradesh along with EESL and SECI will set up EV charging stations along the National and State Highways

bull Andhra Pradesh will set up 400 charging stations in 73 locationsbull Vijayawada Vishakhapatnam and Tirupati will be declared model

mobility cities with phase-wise goals to adopt EV charging infra and new EV enabling building codes

Ola ElectricSetting up Ola E2W Charging infrastructure across India

bull Plans to set up the worldrsquos largest E2W charging network - Ola Hypercharger Network

bull Network size - gt100000 charging points across 400 citiesbull 1st year plan - 5000 charging points in 100 cities bull Estimated Project Investment - USD 2 billion over a period of 5

yearsbull Network accessible to only Ola customers

BluSmart Mobility EV Charging Infrastructure in Delhi

bull BluSmart Mobility has announced that it will install 130 charging stations across Delhi in public parking spaces

bull These points will have fast-chargers that can complete EV charging in 90 minutes

bull These stations will be open to the public on a pay-per-use basis

Siemens and Switch Mobility

Collaboration in the commercial EV segment

bull Siemens and Hinduja Grouprsquos Switch Mobility have signed an MoU to collaborate in the commercial EV segment

bull While Switch Mobility would bring in its electric commercial vehicles into India Siemens would provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers

Ather Energy EV Charging Point Installation

bull Ather Energy has set up 10 charging points across Mumbai and will set up 30 more by next year

bull These points have been set up in collaboration with startup Park+

4Charging infrastruCture

8

Sales trend of cargo E3W and passenger E3W

The sales of registered E3Ws (both passenger and cargo-type) in April 2021 is the lowest in 7 months At 7567 units it has declined m-o-m by ~46 The share of cargo-type E3W in the combined E3W sales for Apr-2021 has fallen to 98 from 19 of the previous month

Electric Three Wheelers (E3W)

Source Vahan Dashboard JMK ResearchNote Sales figure represent E3Ws registered across 1287 RTOs in 33 states UTs

0

2000

4000

6000

8000

10000

12000

14000

Apr-21

Mar-21

Feb-21

Jan-21

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

Jul-2

0Ju

n-20

May-20

Apr-20

Mar-20

Feb-20

Jan-20

Num

ber o

f Veh

icle

s re

gist

ered

E3W - Cargo E3W - Passenger

5175

4124

331 460

5065

564578

12550

12781

9937

46756

759 56930

331

6797

6925

7477

8898

9775

9794

6823

11423

625 647 691 831 653 744

21682677

9

Stakeholder(s) Player(s) Subject Scope Description

Andhra Pradesh State Govt EESL and SECI

Setting up EV Charging stations along National and State Highways in Andhra Pradesh

bull State government of Andhra Pradesh along with EESL and SECI will set up EV charging stations along the National and State Highways

bull Andhra Pradesh will set up 400 charging stations in 73 locationsbull Vijayawada Vishakhapatnam and Tirupati will be declared model

mobility cities with phase-wise goals to adopt EV charging infra and new EV enabling building codes

Ola ElectricSetting up Ola E2W Charging infrastructure across India

bull Plans to set up the worldrsquos largest E2W charging network - Ola Hypercharger Network

bull Network size - gt100000 charging points across 400 citiesbull 1st year plan - 5000 charging points in 100 cities bull Estimated Project Investment - USD 2 billion over a period of 5

yearsbull Network accessible to only Ola customers

BluSmart Mobility EV Charging Infrastructure in Delhi

bull BluSmart Mobility has announced that it will install 130 charging stations across Delhi in public parking spaces

bull These points will have fast-chargers that can complete EV charging in 90 minutes

bull These stations will be open to the public on a pay-per-use basis

Siemens and Switch Mobility

Collaboration in the commercial EV segment

bull Siemens and Hinduja Grouprsquos Switch Mobility have signed an MoU to collaborate in the commercial EV segment

bull While Switch Mobility would bring in its electric commercial vehicles into India Siemens would provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers

Ather Energy EV Charging Point Installation

bull Ather Energy has set up 10 charging points across Mumbai and will set up 30 more by next year

bull These points have been set up in collaboration with startup Park+

4Charging infrastruCture

9

Stakeholder(s) Player(s) Subject Scope Description

Andhra Pradesh State Govt EESL and SECI

Setting up EV Charging stations along National and State Highways in Andhra Pradesh

bull State government of Andhra Pradesh along with EESL and SECI will set up EV charging stations along the National and State Highways

bull Andhra Pradesh will set up 400 charging stations in 73 locationsbull Vijayawada Vishakhapatnam and Tirupati will be declared model

mobility cities with phase-wise goals to adopt EV charging infra and new EV enabling building codes

Ola ElectricSetting up Ola E2W Charging infrastructure across India

bull Plans to set up the worldrsquos largest E2W charging network - Ola Hypercharger Network

bull Network size - gt100000 charging points across 400 citiesbull 1st year plan - 5000 charging points in 100 cities bull Estimated Project Investment - USD 2 billion over a period of 5

yearsbull Network accessible to only Ola customers

BluSmart Mobility EV Charging Infrastructure in Delhi

bull BluSmart Mobility has announced that it will install 130 charging stations across Delhi in public parking spaces

bull These points will have fast-chargers that can complete EV charging in 90 minutes

bull These stations will be open to the public on a pay-per-use basis

Siemens and Switch Mobility

Collaboration in the commercial EV segment

bull Siemens and Hinduja Grouprsquos Switch Mobility have signed an MoU to collaborate in the commercial EV segment

bull While Switch Mobility would bring in its electric commercial vehicles into India Siemens would provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers

Ather Energy EV Charging Point Installation

bull Ather Energy has set up 10 charging points across Mumbai and will set up 30 more by next year

bull These points have been set up in collaboration with startup Park+

4Charging infrastruCture

10

Ministry of Power releases the draft National Electricity Policy 2021 calls for expert recommendations

bull The Ministry of Power has released the draft National Electricity Policy (NEP) 2021 An expert committee consisting of members from MNRE CEA and NITI Aayog has been formed to present its suggestions and recommendations on draft NEP 2021 in two months starting from 27 April 2021

bull Section 17 of the draft covers creation of Charging infrastructure which states that lsquoCertain tariff related measures may be required to be undertaken for Public Charging Stationsrsquo and that lsquoa separate consumer category may have to be created due to the specific nature of the loadrsquo

bull The draft mentions the use of Time Of Day(TOD) tariff to avoid charging during peak hours It also talks about injecting the power back to the grid from EV batteries when needed by the grid and creation of a tariff structure and rules by the concerned SERC for the same

bull Aggregators may be allowed to aggregate the demand of multiple public charging stations to purchase renewable energy using open-access

PoLiCies and reguLations5

11

Mahindra to invest INR 3000 Crores over the next three years in EV Business

bull Mahindra amp Mahindra Ltd will invest Rs 3000 crore on its EV business in the next three years while also looking for more alliances and partnerships

Date Company name

Company type

Deal type Investor(s) Deal value

(in US$ Mn) Details

Apr-21 Revolt Intellicorp EV OEM Equity RattanIndia 2025

Revolt Intellicorp raises Rs150 crore in equity from RattanIndia

Apr-21 Moeving EV based logistics Equity

bull Manas Fuloria CEO Nagarro

bull Nishant Sharma Managing Partner amp CIO Kedaara Capital

bull Mukul Dhyani Senior IT Executive based out of Europe

bull Naresh Agarwal Head of India RampD Traceable

bull Abhishek Poddar MD Macquarie (MIRA)

bull Mayank Gupta ex-KKR Director

bull Anand Dalmia Co-Founder Fisdom Bhanu Singhal ex-Citibank

1

EV startup Moeving raises $1 million launches operations in multiple cities

Apr-21 Oye Rickshaw EV fleet Equity Alteria Capital 323

Oye Rickshaw raises Rs 24 Crore from Alteria Capital to expand EV energy infrastructure

6inVestments

12

bull MampM is working on developing on an EV platform by combining capabilities of its operations across the globe including Detroit and Italy

bull The company which has set a goal of putting 5 lakh EVs on Indian roads by 2025 has already invested Rs 1700 crore in the EV business in India with another Rs 500 crore on a new research and development (RampD) centre

Simple Energy plans to raise USD 15million ahead of its highly anticipated scooter launch

bull Simple Energy plans to raise $15million 60 of these funds will be invested in its manufacturing facility which will produce 50000 units annually

bull The company recently showcased its prototype scooter code-named Mark 2 which will compete with Atherrsquos 450x and Bajajrsquos Chetak upon launch

13

The cumulative li-ion accumulators (or energy storage devices) imported by India in CY2020 is USD 106 Billion The latest monthly data for Feb-2021 signifies a 68 y-o-y and 5 m-o-m rise in Li-ion imports

7 Lithium-ion imPort trends

Li-ion Import Trend ndash India

0

40

80

120

160

Feb-21

Jan-21

Dec-20

Nov-20

Oct-20

Sep-20

Aug-20

Jul-2

0

Jun-20

May-20

Apr-20

Mar-20

Feb-20

Jan-20

9693

6652

3135

5318 5118

8968

1396013360 13294

8993

10056

1123211813

7015US$

Mill

ion

Source Department of Commerce Govt of IndiaNote Li-ion imports represent lithium-ion based energy storage devices (including cells and batteries)

14

gLobaL market uPdates8GM partners up to offer about 60000 EV charging points across Canada US

General Motors has announced deals with major electric vehicle charging networks to offer its customers access to nearly 60000 charging points across the United States and Canada GM also introduced Ultium Charge 360 a platform which integrates charging networks GM vehicle mobile apps and other services to simplify the charging experience for its electric-vehicle owners

The automaker previously announced a $27 billion investment in EV and autonomous vehicles (AV) through 2025 and the launch of 30 new EVs by 2025-end

Biden plan calls for $100 billion in new EV consumer rebates

The Biden administrationrsquos $174 billion proposal to boost electric vehicles calls for $100 billion in new consumer rebates and $15 billion to build 500000 new electric vehicle charging stations according to a US Transportation Department email sent to congressional staff

The EV rebates part of a $23 trillion infrastructure and jobs proposal could be a big boost to US automakers especially General Motors and Tesla Inc which no longer qualify for $7500 tax credits after they sold more than 200000 zero-emission models

Thailand to aim to sell only zero emission cars from 2035

Thailand aims to only sell zero-emission vehicles in the country from 2035 as it works to transform itself from a Southeast Asian hub for the production of conventional autos to one making electric cars The automotive industry is one of Thailandrsquos most important sectors It contributes to about 10 of the economy employs 850000 workers and supports industries from iron and steel to petrochemicals and plastic

About half of the cars made in Thailand are exported to countries including the Philippines Indonesia and Malaysia Thailandrsquos bold plan also sets a target of having electric vehicles account for 50 of all new car registrations by the end of the decade

14

gLobaL market uPdates8GM partners up to offer about 60000 EV charging points across Canada US

General Motors has announced deals with major electric vehicle charging networks to offer its customers access to nearly 60000 charging points across the United States and Canada GM also introduced Ultium Charge 360 a platform which integrates charging networks GM vehicle mobile apps and other services to simplify the charging experience for its electric-vehicle owners

The automaker previously announced a $27 billion investment in EV and autonomous vehicles (AV) through 2025 and the launch of 30 new EVs by 2025-end

Biden plan calls for $100 billion in new EV consumer rebates

The Biden administrationrsquos $174 billion proposal to boost electric vehicles calls for $100 billion in new consumer rebates and $15 billion to build 500000 new electric vehicle charging stations according to a US Transportation Department email sent to congressional staff

The EV rebates part of a $23 trillion infrastructure and jobs proposal could be a big boost to US automakers especially General Motors and Tesla Inc which no longer qualify for $7500 tax credits after they sold more than 200000 zero-emission models

Thailand to aim to sell only zero emission cars from 2035

Thailand aims to only sell zero-emission vehicles in the country from 2035 as it works to transform itself from a Southeast Asian hub for the production of conventional autos to one making electric cars The automotive industry is one of Thailandrsquos most important sectors It contributes to about 10 of the economy employs 850000 workers and supports industries from iron and steel to petrochemicals and plastic

About half of the cars made in Thailand are exported to countries including the Philippines Indonesia and Malaysia Thailandrsquos bold plan also sets a target of having electric vehicles account for 50 of all new car registrations by the end of the decade

15

Honda to move to 100 sales of electric vehicles by 2040 CEO

Honda Motor Co has made an announcement to move towards cleaner fuels and has also set a deadline of 2040 The company plans to transition to electric vehicles (EVs) and fuel cell vehicles (FCVs) by 2040By 2030 the company expects EVs and FCVs to account for 40 of sales and it will further increase it to 80 by 2035 in all major markets which include North America and China

The new commitment from the company came soon after the countryrsquos promise to cut emissions by 2030 Yoshihide Suga Japanese Prime Minister has aimed at a 46 cut in emissions by 2030 and look for ways to go even further nearly doubling from its previous target

ABB Explores EV Charging Unit IPO to Help Fund Acquisitions

ABB Ltd will carve out its electric-vehicle charging business into a separate legal structure to prepare the unit for a potential listing and boost its ability to make acquisitions The business which builds fast electric chargers for cars and buses had revenues of $220 million in 2020 and has had an average growth rate of 50 over the past five years

GM to invest US$1 Billion in Mexico to build electric vehicles

GM plans expand its EV production with an investment of more than $1 billion in Mexico adding a fifth plant in North America with EV production capacity The automakerrsquos facility in Ramos Arizpe Coahuila will start making unspecified EVs for GM brands in 2023

Copyright (c) JMK Research 2021

JMK Research amp Analytics

E contactjmkresearchcom

M +91-7428306655

A 272C Palam Vihar

Gurgaon Haryana-India

W wwwjmkresearchcom