Million-plus EVs sold in 2017
IEA report says 2017 saw 54% jump in EV sales, to surpass one million for the first time, half of them were bought in China. Around 25% of the $43bn spent on EVs in 2017 came from governments.
GST slashed, boost for EVs
EVs and smartphones are likely to get a major boost as India slashed GST on lithium ion batteries from 28% to 18%. GST council, headed by the interim finance minister, agreed to revise rates on several other consumer products as well. The revised rates to be applicable from July 27.
Mahindra not buying EV hype
Mahindra owner warned against the EV “hype”. “Commuting will shift to ride-sharing on fleets of economical electric cars”, but for personal use, very few people will buy EVs, he said.
Strong interest in ISRO’s li-ion cell technology; UK’s $526 million EV fund
Indian space agency ISRO said over 130 companies have shown interest to buy its lithium ion cell technology. Meanwhile, the U.K. is looking for a manager for its new $526 million fund to back EV charging infrastructure, and seeking supply of battery-grade lithium.