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Budget: Battery swapping policy, interoperability to boost EV ecosystem, says industry

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3 years ago

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Budget: Battery swapping policy, interoperability to boost EV ecosystem, says industry

Finance Minister Nirmala Sitharaman said on Tuesday that the government will introduce a battery replacement policy to boost the electric vehicle (EV) ecosystem. However, when it comes to buying electric vehicles, the budget doesn’t mention the availability of ease financing, which is the industry’s biggest demand for that budget.

“The policy is being introduced given the space constraints for setting up charging stations in urban areas,” Sitharaman said in her Budget 2022-23 speech. FM also said that the government will develop interoperability standards.

For the past few weeks, EV players have been saying that the government could consider including EVs in priority lending to help citizens buy EVs at lower interest rates. In a recently released report, government think tank Niti Aayog has said that the electric vehicle financing market for banks and non-banking financial companies (NBFCs) could reach Rs 40,000 ($5 billion) by 2025 and Rs 370,000 by 2025 ($50 billion). 2030.

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Plug Mobility founder Rajiv K Vij said there were some good announcements in the budget to promote electric vehicles by promoting charging infrastructure and standardizing battery specifications for exchange and interoperability.

“However, the budget misses a major challenge to EV adoption – fleet owners who have suffered huge losses during the pandemic desperately need financing for their fleets and government credit guarantees. The commercial vehicle industry is ready to transition to EVs, but Without easy financing at low cost, this will be further delayed,” Viz said.

According to Rajeev Singh, partner and head of the automotive industry at Deloitte India, the budget also fails to address some of the pressing issues facing the industry – such as lack of direct incentives to drive consumption/demand, lack of EV charging infrastructure and rising commodity prices.

The budget barely mentions demand from the traditional (gasoline/diesel) automotive industry, especially in the two-wheeler segment, which is at an all-time low. The industry wants the government to cut the GST rate on two-wheelers to 18% from 28% to boost demand.

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Meanwhile, Sohinder Gill, director-general of the Society of Electric Vehicle Manufacturers (SMEV), said the introduction of a battery replacement policy would incentivize businesses in the business of delivery and ride aggregation to incorporate EVs into their fleets. Samrath Kochar, CEO and founder of battery maker Trentek, said an interoperable battery replacement policy would help ease range anxiety and make EVs comparable to ICE vehicles in the time it takes to refuel. “

Complete News Source – THE NEW INDIA EXPRESS

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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16 hours ago

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January 21, 2025

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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