Swiggy is reportedly testing EVs across 10 Indian cities for food deliveries as part of its sustainability efforts. The firm claims that EVs lower the cost of running the delivery vehicles by up to 40% – which also benefits the owners of the vehicles through higher payouts. Swiggy already partners with 10,000 delivery personnel who use bicycles, and its business rival Zomato has also announced plans to convert 40% of its delivery fleet to EVs within two years.
BNEF: Electric cars will reach price parity by 2022
Research firm Bloomberg New Energy Finance (BNEF) has once again revised its prediction on EVs and now says the rapidly falling costs of their batteries will make electric cars price competitive with IC-engined cars by 2022. It had earlier estimated the date to be 2024, and predicts that EV batteries that account for 33% of an electric car’s cost today will only add 20% to their costs by 2025.
SBI releases low interest Green Car Loan to accelerate EV uptake
India’s largest public sector lender – State Bank of India (SBI) – has introduced a Green Car Loan to attract potential EV adopters. The loan will have an extended repayment period of up to 8 years – as opposed to 5-year loans for traditional automobiles – and no processing fees till October 2019. SBI says it has introduced the loan to help lower vehicular air pollution and accelerate the uptake of EVs across India. The bank itself has committed to an all-electric fleet by 2030.
Japan to include EVs in 30% higher ‘fuel efficiency standards’ by 2030
Japan will now also include EVs in its revised fuel efficiency standards – which will require its automakers to improve their fleets’ cumulative fuel efficiencies by around 30% by 2030. The EVs will be included after factoring in CO2 emissions from the fossil fuel plants that power their charging infrastructure.
However, the move could boost EV sales in Japan as its automakers have admitted they will be unable to meet the new standards with improved IC-engined vehicles alone. EVs and hybrids accounted for 1% of all of Japan’s car sales in 2017, but the figures could rise to up to 30% by 2030.