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Inside the frantic race for answers to the shadow bank crisis

Vital projects are starved for funds following the crisis. The desperation for solutions is palpable.
The Economic Times

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ELECTRIC VEHICLES

Can CAFÉ push electric vehicles?

The transportation sector is said to comprise about 20% of global greenhouse gas emissions. Reduction of emissions from motor vehicles, which comprise about 90% of the sector, is thus paramount for the attainment of the target.

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  • The move is part of an effort to push use of EVs, for which high battery cost is a big hurdle. The batteries, currently being imported, account for more than half the cost of an EV and local manufacturing could help bring this down. The projects would cost as much as $5 billion (Rs 35,500 crore).

    MG Motor India plans to increase production of its SUV Hector by around 30 per cent after BS-VI emission norms come into effect from April 1, according to a senior company official.

    Under the agreement, Siemens Ltd. will acquire approximately 99 percent of the equity share capital of C&S Electric Limited for around Rs. 2,100 crore (EUR 267 million). The buyout will pave the way for the establishment of a design and manufacturing hub in India, supporting the export of electrification solutions to fast-developing markets around the world, said a company statement.

    Tata Motors is readying a portfolio of about half-a-dozen vehicles targeted at prospective buyers of EVs.

    India’s EV production will rely on imports from China of lithium chemicals used to make cathodes and battery cells, according to Jasmeet Singh Kalsi, director at Manikaran Power Ltd., which is exploring setting up India’s first lithium refinery. “China has a thriving lithium chemical, battery cathode, battery cell and EV supply chain. India has none.”

    Bounce currently operates its dockless scooters in Bengaluru and Hyderabad with a fleet of 13, 000 and 2, 000 vehicles respectively. It's docked scooter rental service is available to commuters in over 35 cities.

    The vehicle comes strapped with a 44.5 kWh battery, delivering a range of around 340 km on a single charge. The company will begin with sales of the MG ZS EV in Delhi-NCR, Mumbai, Bengaluru, Ahmedabad and Hyderabad.

    Financiers said e-car sales must show up sufficiently on the dashboard for them to build a viable finance plan.

    At the closure of December 2019 total coal stock at power plants and mine mouth was 57 million tonnes. Stocks at pit heads stood at 25.3 million tonnes, ahead by 2.1 million tonnes than a year ago period. Stocks at power plants stood at 31.63 million tonnes, sufficient for 18 days’ consumption, more than twice last year’s stock.

    The announcement comes days after the American e-tail giant had announced investment of $1 billion for digitising small and medium businesses, and creation of one million jobs by 2025.

    Daimler said that its 2019 earnings before interest and tax are expected to slump to 5.6 billion euros ($6.2 billion) from 11.1 billion euros a year earlier.

    The number of registrations at RTOs came down by 15% in December as compared to a year ago.

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