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Penetration Of Electric Vehicles To Remain Low In Medium-Term In PVs, CVs: ICRA

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4 years ago

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Penetration Of Electric Vehicles To Remain Low In Medium-Term In PVs, CVs: ICRA

Rating agency ICRA said domestic entry on Monday said electric vehicles (EVs) would remain low in the medium term in segments such as passenger vehicles and commercial vehicles due to high prices and lack of financial incentives from the government.

ICRA said in a statement that until the specifications of the batteries are standardized, standardization of battery specifications, including charger specifications at original equipment manufacturers (OEMs), is not successful.

While rejecting any meaningful domestic penetration of EVs in major automotive segments such as PV (passenger vehicles) and CV (commercial vehicles), the ICRA cited high prices from the government to encourage and the absence of strong direct and indirect financial incentives. gave. Adopt EV.

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“Currently, the FAME II incentive for electric passenger vehicles (PVs) is limited to the commercial taxi segment only, highlighting GoI’s (Government of India) awareness of EVs for individual car buyers in the near-medium Will stay away Term, ”ICRA said.

The rating agency further noted that the modernity of vehicle financing in the battery-swappable model, where core batteries are owned by third parties and financiers only have control over the residual vehicle, is another challenge.

In addition, it stated that EV vendor systems require substantial investment to keep costs under investigation and reduce reliance on imported electronic systems.
ICRA believes that automobile swapping will cause automobile OEMs to face strong resistance due to the potential impact of their product differentiation capabilities, as well as pricing flexibility.

Its acceptance will therefore be limited to some less complex automotive sub-segments, like three-wheelers.

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The rating agency stated, “Given the importance of battery hardware and software in the overall performance of the EV, battery swapping will face strong resistance in technically complex products.”

ICRA Vice President and Co-Head Ashish Modani said, “The price sensitive nature of the Indian market means that EVs need to be competitively priced, which in turn calls for ‘economies of scale’.”

He added that EV prices are currently higher than internal combustion engine (ICE) vehicles. This combination coupled with the lack of public charging infrastructure has resulted in minimal EV penetration into the country.

Modani said, “Government support in the form of direct / indirect financial incentives and supportive regulation will be important to gain traction in the Indian market.”

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Automotive sub-segments such as three-wheeler (3W), two-wheeler (2W), intra-city bus and small commercial vehicle (SCV) are likely to emerge as early adopters due to the comparable total cost of ownership of their ICE counterparts, He added.

“EV penetration in passenger vehicle (PV) and heavy trucks segment is likely to remain low. Over the next five years, EVs will account for 8–10 per cent of new vehicle sales in 2W and intra-city buses, while its Modani said the PV segment will hold around 3-5 per cent.

He said the three-wheeler segment could see a rapid transition in new vehicle sales with EV penetration by 2025.

News Source: EconomicTimes

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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3 weeks ago

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January 30, 2025

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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