EV updates. NTPC Signs MoUs with Seven Vehicle Aggregators, Ola plans EV
NTPC has signed MoUs with seven car aggregators namely, Ola, Lithium, Shuttl, Bikxie, Bounce, Electrie and Zoom Car for development and utilization of public EV charging infrastructure.
NTPC wants the collaboration with these 7 due to their presence in the entire spectrum of e-mobility, and this will help developing the charging infrastructure for various car segments as well as ensure effective use of public infrastructure when the installations are complete.
NTPC plans to provide charging solutions for the entire range of electric vehicles, starting for electric buses and to electric 2&3 wheelers, which will promote the creation of e-mobility ecosystem in India. These MoUs provides a win-win situation to the state run Power Giant NTPC as well as the vehicles plying on the Indian roads.
Last month NTPC floated a tender for battery charging and swapping stations in Faridabad and in another move to go green, plans to start co-firing all its coal-based thermal power stations with Biomass, in a bid to reduce greenhouse gas emissions and cut pollution.
On the EV front it has already installed charging stations at its regional offices, spread all across the country and now is working in tandem with IOCL, HPCL and DMRC to develop a public charging infrastructure. The move is to address the biggest fear –range anxiety for new consumers and prosumers, driving or planning to buy these electric vehicles.
meanwhile, one of the vehicle aggregators, Ola has announced that it wants to go beyond its cab business. It plans to showcase its concept electric vehicles, including an electric three-wheeler and perhaps four-wheel drives. Media sources say that the company is in talks various vendors to supply components and most importantly Lithium Ion Batteries which constitute 50% of a vehicle cost. Ola wants to manufacture a commercial model on its own or maintain complete control over the manufacturing process of the vehicle. If successful it will come in direct competition of Bajaj Auto which has been in Indian market for many decades and is also working on models for electric rickshaws.
Ola can take anywhere from 36 to 60 months to fully commercialize its concept electric vehicles. As the competition grows, the product will have to wait at least 5 years before it can match to international rivals like Hyundai, Nissan and Suzuki, who are also launching their EVs for the Indian market.
