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Emerging Tech

Electric Vehicles

Artificial Intelligence

<p>Vijay Shekhar Sharma, the founder and chief executive of the digital payment company Paytm, has initiated a Rs. 30-crore fund to support startups working on artificial intelligence (AI) and electric vehicles (EV) in India. This fund, named the 'VSS Investments Fund,' has been approved by the Securities and Exchange Board of India (SEBI). The fund has an initial size of Rs. 20 crore, with an additional green shoe option of Rs. 10 crore.</p>

<p>In addition to new investments, this fund will also facilitate follow-on investments in Sharma's existing portfolio of consumer and B2B technology startups.</p>

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<div class="heading-text">Also read</div>

<ul class="tab-link">
	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/artificial-intelligence/story/paytm-to-use-generative-ai-for-fraud-detection-customer-support-and-more-says-founder-vijay-shekhar-sharma-555588-2023-05-09">"Generative AI will be used by Paytm for fraud detection, customer support &amp; onboarding": Vijay Shekhar Sharma</a></li>
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<h3>Boosting Indian innovations</h3>

<p>Mr. Sharma, who has previously supported startups like Ola Electric, GoQii, Daalchini, Treebo Hotels, KWH Bikes, LeverageEdu, Josh Talks, and KAWA Space, believes that the Indian startup ecosystem harbours some of the world's brightest entrepreneurs. He envisions India as a potential powerhouse for advanced technology and AI-driven innovations.</p>

<blockquote class="at-quotes">
<p>"India's aspiration to be a $10 trillion atmanirbhar (self-reliant) economy will be defined by the spirit of innovation and entrepreneurship."</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<div class="author">Vijay Shekhar Sharma, founder of Paytm</div>
</blockquote>

<p>Sharma's fund launch is a testament to his commitment to nurturing promising young founders in India, recognising the significant role that technology plays in the country's development.</p>

<h3>Primary contribution from Sharma</h3>

<p>Vijay Shekhar Sharma will be the primary contributor to the fund, along with investments from external sources.</p>

<p>The Category II Alternate Investment Fund (AIF) is sponsored by VSS Investco Pvt. Ltd., an entity owned and controlled by him. This move is in line with his dedication to fostering technological advancements in the nation.</p>

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<h3>Commitment to climate solutions</h3>

<p>In 2018, Vijay Shekhar Sharma, along with venture capitalist Shailesh Vickram Singh of Seedfund, launched the ‘Massive Fund,’ a climate fund for India. This fund aimed to invest $150 million in startups addressing critical sectors such as food, agriculture, air and water pollution, renewable energy, recyclables like electronics and plastic waste, mobility, and sustainable environmental solutions.</p>

<p>Vijay Shekhar Sharma's latest fund launch reaffirms his commitment to promoting innovation, entrepreneurship, and sustainable technology solutions in India's dynamic startup ecosystem.</p>


Mr. Sharma, who has previously supported startups like Ola Electric, GoQii, Daalchini, Treebo Hotels, KWH Bikes, LeverageEdu, Josh Talks, and KAWA Space, believes that the Indian startup ecosystem harbours some of the world's brightest entrepreneurs.


Paytm founder Vijay Shekhar Sharma brings out a fund to invest in AI & EVs

The fund, known as the ‘VSS Investments Fund,’ is introduced as a Category II Alternate Investment Fund

The total fund size is Rs. 20 crore, with a green shoe of Rs. 10 crore

Paytm founder initiates Rs. 30 million fund for AI & EV startups

artificial intelligence

Digital payment company Paytm’s founder, Vijay Shekhar Sharma, launches Rs. 30 Cr fund for AI & EVs startups

Paytm founder raises Rs. 30 Cr fund for AI & EV startups

<p>In a significant development for users in India, WhatsApp, the widely popular instant messaging application under Meta Platforms, Inc., has introduced a new set of updates enabling millions of users to make payments for products and services directly through the platform. This move by Meta appears to be aimed at leveraging the immense potential of the Indian market to increase its revenue. Mark Zuckerberg, CEO of Meta, praised India as a global leader in digital payments while announcing this exciting payment solution for Indian users.</p>

<h3>Collaboration with PayU &amp;&nbsp;Razorpay</h3>

<p>Meta has collaborated with leading payment gateway providers PayU and Razorpay to offer comprehensive support for payments in India. Users can now seamlessly make payments using a variety of methods, including debit and credit cards, net banking, and UPI apps. During his virtual address at the Conversations 2023 event, Mark Zuckerberg highlighted that this feature enables customers to make payments to Indian businesses almost instantly. Furthermore, Meta is actively working towards expanding the range of payment options available within chat threads.</p>

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	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/artificial-intelligence/story/meta-new-ai-advancements-can-be-a-game-changer-for-tech-world-676251-2023-09-11">Meta is working on cutting-edge AI advancements, a game-changer for the tech world: Reports</a></li>
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<h3>Expanding Meta verification</h3>

<p>Additionally, Meta is extending its "Meta Verified" program to businesses on WhatsApp, Instagram, and Facebook, starting with small enterprises and gradually including larger ones. Verified businesses will receive official badges, protection against impersonation, dedicated account support, and enhanced business features over the coming months. This expansion follows the earlier introduction of Meta Verified for individual users on Facebook and Instagram in India.</p>

<p>Furthermore, Meta announced the upcoming release of 'WhatsApp Flows,' a feature designed to automate common business processes, such as booking tickets, filling forms, or submitting applications. This innovation is set to empower businesses with greater efficiency and ease of operation.</p>

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	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/artificial-intelligence/tools/story/meta-launches-ai-powered-coding-tool-for-developers-that-supports-all-programming-language-640175-2023-08-25">Meta introduces Code Llama: An AI-powered code-writing tool for developers</a></li>
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<p>With these new updates and partnerships, Meta is poised to enhance its presence in India's dynamic digital ecosystem and facilitate seamless transactions for both users and businesses on the WhatsApp platform.</p>


As per Meta's latest announcement, Indian users will now be able to make payments for products and services through WhatsApp.

Meta has collaborated with leading payment gateway providers PayU and Razorpay to offer comprehensive support for payments in India

The company has extended its extending its "Meta Verified" program to businesses on WhatsApp, Instagram, and Facebook, starting with small enterprises and gradually including larger ones

Meta unveils UPI payments for WhatsApp business in India 

emerging tech

WhatsApp Business empowers Indian users with UPI payments, thanks to Meta

Meta unveils UPI payments for WhatsApp Business in India 

<p>In an era defined by environmental consciousness and technological advancements, the electric vehicle (EV) market in India is experiencing a rapid transformation. As the world shifts towards sustainable transportation, India is no exception, with the government actively encouraging the adoption of EVs. In this evolving landscape, several renowned companies have emerged as frontrunners in the Indian EV sector, contributing to the nation's green mobility revolution.</p>

<h3>Meet the top 7 EV industry leaders</h3>

<h4>Reliance Industries Ltd.</h4>

<p>Known for its diverse portfolio spanning oils, chemicals, retail, and more, Reliance Industries is strategically positioning itself in the EV market. With investments in logistics, aviation fuel, and supply-chain infrastructure, the company is poised to play a significant role in India's EV ecosystem.</p>

<h4>TVS Motor Company Ltd.</h4>

<p>A trusted brand in the two- and three-wheeler market, TVS Motor Company has ventured into the EV space with innovative electric bike offerings. Leveraging its strong reputation, the company aims to capture a substantial share of the growing EV market.</p>

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	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/emerging-tech/electric-vehicle/story/us-govt-approves-the-first-electric-flying-car-in-history-named-model-a-607611-2023-07-02">The world's first ‘legal’ electric flying car takes off! Will this revolutionise transportation?</a></li>
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<h4>Tata Motors Ltd.</h4>

<p>Tata Motors, an internationally recognised automobile manufacturer, boasts a wide range of electric utility cars in its portfolio. Collaborations with companies like Tata Steel and Tata Chemicals for body and battery components underscore their commitment to sustainable transportation.</p>

<h4>Indian Oil Corporation Ltd.</h4>

<p>This oil-based giant has made significant strides in the EV sector by establishing EV charging stations, aligning with the government's vision of seamless EV adoption and reducing carbon emissions.</p>

<h4>Mahindra and Mahindra Ltd.</h4>

<p>Pioneering electric mobility in India since 2001, Mahindra and Mahindra has continuously expanded its EV offerings. With a dedicated R&amp;D center, battery manufacturing capabilities, and investments in EV charging infrastructure, the company remains a frontrunner in the EV industry.</p>

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	<li class="editor-readmore"><a class="editor-rel-content" href="https://www.web3cafe.in/emerging-tech/electric-vehicle/story/toyota-solid-state-battery-tech-enhance-range-reduce-cost-for-electric-vehicles-578821-2023-06-13">Toyota’s new solid-state battery tech to enhance EV range &amp; reduce cost</a></li>
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<h4>Ashok Leyland</h4>

<p>As a leading bus and truck manufacturer, Ashok Leyland is forging ahead in the electric vehicle domain. Collaborations with Sun Mobility and innovative solutions like battery swapping in electric buses reflect their commitment to sustainable transportation solutions.</p>

<h4>Olectra Greentech</h4>

<p>Known for its pioneering efforts in EV public buses, Olectra Greentech is India's largest EV bus manufacturer. Their innovative technologies, such as regenerative braking and fast charging, have revolutionised electric bus transportation in India.</p>

<h3>Paving the way for a greener future</h3>

<p>With these top 7 EV companies leading the charge, India's electric vehicle market is poised for exponential growth. Their investments in research, development, and sustainable technologies demonstrate a commitment to reducing the carbon footprint of transportation in the country. As India accelerates its transition towards electric mobility, these companies are not just meeting the demand but also setting new standards for innovation and eco-friendly transportation solutions. The future of transportation in India is undoubtedly electric, and these industry leaders are driving the change toward a greener, more sustainable tomorrow.</p>


India's electric vehicle market is poised for exponential growth as some of the top EV companies like Tata Motors, TVS Motor Company, Mahindra and Mahindra etc. are leading the charge.

India's EV market is experiencing a rapid transformation

Several renowned companies are setting new standards for innovation and eco-friendly transportation solutions

Discover the leading EV companies of India in 2023

electric-vehicle

Riding the electric wave: Top 7 EV companies leading the charge in India for 2023

Top 7 EV companies leading the charge in India for 2023

<p>Alef Aeronautics' flying vehicle prototype has finally received the approvals it needed from the US government. Alef Aeronautics, a California-based aerospace company, became the first company to receive a limited FAA Special Airworthiness Certification for their flying Model A, which was unveiled in October 2022.</p>

<p>The US government's regulatory authority that oversees all aircraft known as the FAA, or Federal Aviation Administration, has given legal permission to the Model A making it the first flying car.</p>

<h3>The Story behind the invention of Model A</h3>

<p>Alef Aeronautics created its first prototype in 2016 to satisfy a number of criteria, including the capacity for vertical takeoff, affordability, and car-like driving.</p>

<p>{"preview_thumbnail":"/s3/files/styles/video_embed_wysiwyg_preview/public/video_thumbnails/4QaTwebs5nY.jpg","video_url":"https://youtu.be/4QaTwebs5nY","settings":{"responsive":1,"width":"854","height":"480","autoplay":1},"settings_summary":["Embedded Video (Responsive, autoplaying)."]}</p>

<p>Alef Aeronautics was founded in 2015 by Dr. Constantine Kisly, Pavel Markin, Oleg Petrov, and Jim Dukhovny. They are a group of technical masters who are on an exciting journey to realise this ambitious objective. The first designs for a real flying automobile were made on a napkin while the creators were having a cup of coffee.</p>

<h3>Alef Model A specifications &amp; price</h3>

<p>The Model A has a 200-mile driving range and is built to function much like a regular car. The company began pre-sales in October 2022 for an electric flying automobile, and over 440 bookings had already been made by the end of the year. Since 2019, Alef Aeronautics has conducted testing of both its driving and flying prototypes. It is projected that Model A manufacturing will start in the fourth quarter of 2025, and deliveries will start soon.</p>

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<p>The company's CEO, Jim Dukhovny, expressed his joy at gaining FAA certification, saying that this permission moves them one step closer to offering consumers a more ecologically friendly and quick journey. He praised the advancement as "one small step for planes, one giant leap for cars."</p>

<p>Alef claims that both individuals and companies have placed a flood of pre-orders for its flying electric vehicle. The automobile can be preordered by interested buyers for $150 for a non-priority general line or $1,500 for a high-priority queue. The automobile is anticipated to cost $299,999 in total, which is equivalent to about Rs 2.46 crore.</p>

<p>With the Model A, Alef Aeronautics has plans for more cars, such as the Model Z, a four-seat saloon with a $25,000 starting price that will make its debut in 2035. The flying and driving ranges of the Model Z are expected to be over 300 miles and 200 miles, respectively.</p>

<p>While Alef Aeronautics leads the way for flying automobiles, other companies throughout the world are also investigating related ideas. For instance, early this year, China's first manned eVTOL, the Aero HT from EV startup XPeng, received flight approval.</p>

<p>According to the company's official statement, the FAA is actively working on its policies for electrical vertical takeoff and landing (eVTOL) vehicles, as well as governing interactions between eVTOLs and ground infrastructure. By approving Model A, the US government has taken a significant step towards the transportation of the future and signified the emergence of a new era.</p>


Model A, a revolutionary flying car by Alef Aeronautics, has been given legal permission by the US Federal Aviation Administration (FAA), making it the first flying car.


FAA grants legal permission for the first flying car named Model A

The first designs for a real flying car were made on a napkin

The company plans to launch the Model Z sedan in 2035 for $35,000

Flying car Alef Model A

The world's first ‘legal’ electric flying car takes off! Will this revolutionise transportation?

Introducing the first flying car in the world 

<p>Toyota plans to enhance its electric vehicles by introducing advanced solid-state batteries and implementing other technologies to enhance range, performance, and cost-efficiency. Toyota advances mass production method for solid-state batteries, plans commercialisation by 2027-2028.</p>

<p>Further Toyota stated “With the evolution of the vehicle's operating system, the next-generation battery EV will also enable customisation of the driving feel,' with a focus on acceleration, turning and stopping,". Toyota made the announcement ahead of its annual shareholders meeting, acknowledging the need to catch up in the EV market.</p>

<p>The company's stock rose by 4.45 percent to 2,161 yen. According to Toyota, they will develop an electric vehicle with a more efficient lithium-ion battery, offering a range of 1,000 km. However, specific details about costs, manufacturing location, and solid-state battery production were not provided.</p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Newly revealed Toyota EV plans include batteries with 900-plus miles of range <a href="https://t.co/rxauNT8iOA">https://t.co/rxauNT8iOA</a> <a href="https://t.co/pDxrIWhyW9">pic.twitter.com/pDxrIWhyW9</a></p>
— Automotive News (@Automotive_News) <a href="https://twitter.com/Automotive_News/status/1668348588412534786?ref_src=twsrc%5Etfw">June 12, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h3>Battery technology</h3>

<p>Toyota is working on ways to enhance battery performance and lower costs. They are now shifting their focus from research to actually producing solid-state batteries, which offer higher energy density and faster charging compared to the current lithium-ion batteries. Toyota plans to sell vehicles equipped with these advanced batteries by 2027 or 2028.</p>

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</ul>

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<p>They have also announced a significant technological advancement in addressing durability issues associated with solid-state batteries, although specific information has not been disclosed. Toyota announced plans to develop a high-capacity battery for an electric vehicle (EV) by 2026. This battery will allow the EV to travel up to 1,000 km on a single charge and can be recharged in 20 minutes or less.</p>

<p>Additionally, Toyota aims to reduce the cost of the battery by 20 percent compared to their current EV, the bZ4X. Furthermore, Toyota intends to manufacture lower-cost lithium-iron-phosphate (LFP) batteries for use in EVs by 2026 or 2027. These batteries are expected to increase the range by 20 percent and decrease costs by 40 percent when compared to the bZ4X.</p>

<h3>Production technology</h3>

<p>Toyota plans to adopt Tesla's Giga casting production process to make its next-generation electric vehicles (EVs) more affordable and easier to manufacture. Giga casting involves using a large aluminum die-casting machine to simplify and streamline the production of car parts.</p>

<p>To further reduce costs, Toyota intends to implement flexible assembly lines with self-propelled vehicles and digital technology. This approach can help cut factory investment expenses by half and lower fixed costs, including labor expenses.</p>


Toyota targets 2026 for rollout of next-gen batteries, paving the way for advanced automotive technology

Toyota to roll out next-gen batteries by 2026

Toyota plans to adopt Tesla’s Giga production process to make its next-gen electric vehicles

The new tech battery will offer 1000km of range

Toyota's new tech to enhance range and reduce cost 

Toyota’s new solid-state battery tech to enhance EV range & reduce cost

New Toyota solid-state battery tech to enhance EV range

<p class="text-align-justify">Mercedes-Benz, a German-based luxurious brand, is all set to promote electric vehicles (EVs) in India as the nation’s desire for zero-emission vehicles grows.<br />
<br />
<strong>Head of Region Overseas's statement</strong><br />
<br />
For the next 8-12 months, the premium automaker plans to launch four more EV models. The company made this decision in an effort to enhance sales in India, where they achieved a spectacular 41% increase in 2022, according to Matthias Luehrs, Head of Region Overseas at Mercedes-Benz AG.<br />
<br />
By 2027, the company predicts that electric vehicles will account for 25% of all sales made in India.<br />
<br />
Luehrs spoke with the media by stating, “With (models like) the EQS and the EQB, we are pleased with how our EVs (electric vehicles) are progressing on the Indian market. Four further vehicles will be arriving.”</p>

<p class="text-align-justify"><br />
The company presently offers four premium electric car models in the Indian market: the EQS, EQB, EQC, and EQS AMG. Presently, 3% of the company's entire sales in India are made up of EV sales.<br />
<br />
Mercedes-Benz India reported a 41% increase in total sales in the year 2022, with a record 15,822 cars sold compared to 11,242 units sold in the year 2021. Its previous record-breaking sales were set in 2018 at 15,583 copies.<br />
<br />
<strong>Position of India for Mercedes-Benz</strong><br />
<br />
According to Luehrs, the potential for this market makes India the fifth largest market for Mercedes-Benz in the "overseas" region, which includes 120 markets except for Germany, the US, the UK, and China.<br />
<br />
He further responded that it might be possible for India to advance up the ladder in the following two years.<br />
When asked why the company is so positive about India, Luehrs responded, "The elements which make us quite confident is that we have observed a major change in the structure of consumers in India."<br />
<br />
The average age of buyers of the company's top-of-the-line sedan S Class is currently 38 years old, while that of the C Class vehicle is 35 years old. "That's 10 years younger than 10 years ago... and we have a 15% female customer share, which is 10% more than 10 years ago," he added, adding that Indian customers were also very quick to accept new technology the company offered.<br />
<br />
<strong>Further Plans for Mercedes Benz</strong><br />
<br />
According to Luehrs, the company has adopted an agency model in which cars are sold to customers at a set price, and dealers are rewarded with a fixed amount for delivering the car. Here, dealers are not required to maintain inventory, and purchasers are satisfied because they may buy the car for the same price all throughout India.<br />
<br />
Further, he stated that the business exclusively focuses on EVs and not the development of hybrid vehicles when it comes to renewable fuels.</p>

<p class="text-align-justify"><br />
&nbsp;</p>


In order to speed up its electric mobility effort, Mercedes-Benz plans on launching four new electric vehicles  in India over the next 8 to 12 months.

Mercedes-Benz is all set to promote electric vehicles in India 

The company offers four premium electric car models in the India i.e., EQS, EQB, EQC, and EQS AMG

India is Mercedes-Benz’s fifth-largest international market

Mercedes-Benz is all set to launch 4EVs in India 

Mercedes-Benz plans to introduce 4 EVs in India by 2024

Mercedes-Benz intends to launch EVs in India

<p class="text-align-justify">At a programme conducted at the GMCH auditorium, the Chief Minister of Assam, Himanta Biswa Sarma, introduced Mission LiFE. Mission LiFE's is an initiative that promotes environmentally friendly living by encouraging purposeful use rather than wasteful consumption to introduce Prime Minister Narendra Modi's Mission LiFE goal (Lifestyle for Environment).<br />
<br />
According to Himanta Biswa Sarma, the state government is introducing electric vehicles (EVs) in Guwahati in an effort to reduce carbon emissions, and by 2026, all forms of public transportation would be powered by electricity and non-fossil fuels.</p>

<div class="embedcode">
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Pleased to launch Mission Lifestyle for Environment (LiFE) in the state, a global mass movement being spearheaded under the leadership of Hon PM Shri <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> ji.<br />
LiFE promotes an environmentally conscious lifestyle focusing on utilisation instead of wasteful consumption’. <a href="https://t.co/9HryDTAryZ">pic.twitter.com/9HryDTAryZ</a></p>
— Himanta Biswa Sarma (@himantabiswa) <a href="https://twitter.com/himantabiswa/status/1638165171364347906?ref_src=twsrc%5Etfw">March 21, 2023</a></blockquote>
<script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></div>

<p class="text-align-justify">Naveen Munjal, the managing director at Hero Electric Vehicles Pvt. Ltd., tweeted</p>

<div class="embedcode">
<p class="text-align-justify"><script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></p>

<blockquote class="twitter-tweet">
<p class="text-align-justify" dir="ltr" lang="en">It’s a <a href="https://twitter.com/hashtag/SmartMove?src=hash&amp;ref_src=twsrc%5Etfw">#SmartMove</a> by Assam Govt. to introduce <a href="https://twitter.com/hashtag/EVs?src=hash&amp;ref_src=twsrc%5Etfw">#EVs</a> in Guwahati &amp; transition public transport to non-fossil fuel sources by 2026 to curb carbon emissions! It is a big step towards a green, clean &amp; <a href="https://twitter.com/hashtag/sustainable?src=hash&amp;ref_src=twsrc%5Etfw">#sustainable</a> future <a href="https://t.co/wj46oPKm6N">https://t.co/wj46oPKm6N</a></p>
</blockquote>

<blockquote class="twitter-tweet text-align-justify">— Naveen Munjal (@nmunjal) <a href="https://twitter.com/nmunjal/status/1638789198084702208?ref_src=twsrc%5Etfw">March 23, 2023</a></blockquote>

<p class="text-align-justify"><script async="" charset="utf-8" src="https://platform.twitter.com/widgets.js"></script></p>
</div>

<p class="text-align-justify">Following the mission in Assam, a week-long series of district-level events targeting all seven types of LiFE initiatives will be conducted from March 22 through March 28, 2023.<br />
<br />
Throughout the course of seven days, the seven initiative categories will be observed. The first day will be focused on conserving water, the second on conserving energy, the third on reducing single-use plastic, the fourth on adopting sustainable food systems, the fifth on decreasing waste, the sixth on decreasing E-Waste, and the seventh on adopting a healthy lifestyle.<br />
<br />
<strong>Some major declarations by Sarma</strong><br />
<br />
Addressing the event, Chief Minister Sarma stated that the threat caused by global warming to human life on the earth is serious.<br />
<br />
He further added that the state government is introducing electric vehicles in Guwahati in order to reduce carbon emissions, and that by 2026, all forms of public transportation will be powered by electricity and non-fossil fuels.<br />
<br />
On this occasion, he encouraged everyone to contribute to making Mission LiFE successful.<br />
&nbsp;</p>


A week-long series of district-level events focusing on LiFE initiatives will be conducted from March 22 through March 28, 2023.

The CM of Assam introduced Mission LiFE at the GMCH auditorium

By 2026, the state government of Assam will introduce EVs in Guwahati

All seven types of LiFE initiatives will be conducted

Assam introduces EVs in Guwahati to reduce carbon emissions

 To reduce carbon emissions, Assam introduces EVs in Guwahati

Assam launches EVs in Guwahati

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">On Tuesday, the </span><span style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;background:white">Union Ministry of Heavy Industries announced sanctioning Rs 800 crore under FAME India Scheme Phase II to three PSU oil marketing companies (OMC), namely Indian Oil (IOCL), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL), for installing additional 7,432 EV fast charging stations.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">The Ministry has released Rs 560 crore or 70 percent of the total amount to the above companies as the first installment for the installation and commissioning of upstream infrastructure and charging equipment of EV public charging stations at respective retail outlets in the country. As per the official statement, the installation is likely to be completed by March next year. As per the official data, there are 6,586 charging stations across the country.<o:p></o:p></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">A push to the Indian EV sector<o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">Currently, there are 6,586 charging stations across the nation. The above-mentioned move will give a major push to the country’s EV charging ecosystem, thereby creating a robust charging infrastructure network that is more accessible to the general public,<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">This would encourage more people to switch to cleaner and greener modes of transportation. The additional capacity would be used for charging electric 2-wheelers, 4-wheelers, light commercial vehicles as well as mini buses. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">According to Mahendra Nath Pandey, Minister of Heavy Industries, the government is committed to promoting sustainable green mobility solutions and is also focused on lowering the country's carbon emissions.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">It is pointed out that EVs have gained a considerable amount of popularity in recent years as a cleaner and more efficient alternative to traditional gasoline-powered cars. The Indian government is committed to achieving 30 percent electrification of the country's vehicle fleet by 2030 and has introduced numerous policies and incentives to boost the growth of the EV industry.<o:p></o:p></span></p>


The Ministry of Heavy Industries has released Rs 560 crore to Indian Oil, Bharat Petroleum, and Hindustan Petroleum for setting up fast-charging electric vehicle (EV) stations across the country.

The Ministry of Heavy Industries announced sanctioning Rs 800 crore for the Indian EV industry

It has released Rs 560 crore as the first installment for the installation and commissioning of its infrastructure

The move would encourage more people to switch to cleaner and greener modes of transportation

Government announces sanctions crores for Indian EV industry

Govt approves Rs 800 cr to boost India’s EV industry, encourages people to shift to greener sources of energy

Govt approves Rs 800 cr to boost India’s EV industry

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">The Indian Premier League, popularly known as IPL, is one of the hugely loved versions of cricket, and Tata Motors which has continued <span style="background:white">its alliance for the sixth consecutive year as the official partner</span> of IPL, displays its <span style="background:white">various range of cars during the past iterations.</span> This time, Tata Motors has announced its newest offering, Tiago EV as the official partner of the IPL’s latest edition.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">This move by the company reflects its commitment to the electric vehicle (EV) industry across the country. Making use of the sporting platform, Tata Motors aims to increase awareness of these greener and cleaner vehicles among the people.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">According to Vivek Srivatsa, Head, Marketing, Sales, and Service Strategy, Tata Passenger Electric Mobility, "This association with India's biggest media property will help us highlight the importance of EVs, not only in urban India, but in smaller towns as well.” He added, “We wish to drive tremendous value from this partnership and fast forward the ongoing revolution towards the future of mobility by encouraging rapid adoption of EVs in India." <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">Tata Motors will display its Tiago EV across all 12 stadiums and engage audiences with various activities. One such activity is the "100 reasons to go EV with Tiago.ev” campaign, which focuses on identifying mental barriers obstructing EV adoption and exposing common EV myths. Further, the campaign also highlights the USPs (unique selling points) of the Tiago EV.<o:p></o:p></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">A little about Tiago EV<o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">Tata’s newest offering, Tiago EV, is a premium <span style="background:white">electric hatchback car. It comes with two battery pack options, &nbsp;19.2kWh and 24kWh, offering a claimed range from 250km to 315km.<o:p></o:p></span></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">The car's charging options include a 15A plug point, a 3.3kW charger, a 7.2kW AC fast charger, and a DC fast charger. The vehicle boasts various amenities such as a seven-inch touchscreen infotainment system with Android Auto and Apple CarPlay, a four-speaker Harman sound system with four tweeters, and auto AC. It is also equipped with rain-sensing wipers, steering-mounted controls, and cruise control.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">It boasts amenities such as a seven-inch touchscreen infotainment system with Android Auto and Apple CarPlay, a four-speaker Harman sound system with four tweeters, and auto AC. It also gets rain-sensing wipers, steering-mounted controls, and cruise control.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">It must be noted that the 2023 edition of the IPL is set to scheduled to commence on 31 March.<o:p></o:p></span></p>


The Indian EV (electric vehicle) industry is all set to get a push as Tata Motors announces its Tiago EV to become the official partner of the 2023 IPL series. 

IPL 2023 is scheduled to commence on 31 March

Tata Tiago EV becomes official partner of 2023 IPL season

The company aims to increase awareness of EV vehicles amongst people

Tata Tiago EV becomes 2023 IPL season's official partner

Tata Tiago EV becomes IPL 2023's official partner, EV industry gets a boost

<p class="MsoNormal" style="text-align:justify"><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">The renowned electric car maker, Tesla, posted record </span><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">quarterly vehicle deliveries,<span style="background:white"> with 422,875 cars deliveries worldwide in the first quarter after cutting its prices.<o:p></o:p></span></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">Tesla, the electric vehicle (EV) pioneer, reported record deliveries in the first quarter, delivering about 423,000 vehicles from January through March, up from 405,000 in the last quarter of 2022. <o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">In fact, the company posted record deliveries after it slashed prices to appeal to consumers buffeted by escalating interest rates and faster inflation. Interestingly, the Texas-based company produced 440,808 vehicles during the quarter, as compared to analysts' expectations of 432,513 cars.<o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">In the words of Gene Munster, managing partner of Deepwater Asset Management, “Tesla deliveries were in line with the consensus numbers, but it was a disappointment relative to some of the whisper numbers.” He further added, “They grew deliveries 36% from a year ago, but Musk’s comment on the last earnings call was for 50% delivery growth. They will have to pick up the pace for deliveries for the rest of the year.”<o:p></o:p></span></p>

<h3 class="MsoNormal" style="text-align: justify;"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">Check out India’s EV market<o:p></o:p></span></h3>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;
background:white">As of 30 March 2023, the total sales of EVs in the country stood at 11,65,057 units, hitting the million milestone for the first time in a fiscal year, states Vahan data. Further, in CY2022, EV sales were </span><span lang="EN-IN" style="font-size:12.0pt;line-height:115%;mso-bidi-font-family:Calibri;
mso-bidi-theme-font:minor-latin;mso-ansi-language:EN-IN">10,23,735 units, which accounted for 4.93 percent of all vehicle sales, totaling </span><span style="font-size:12.0pt;line-height:115%;mso-fareast-font-family:&quot;Times New Roman&quot;;
mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin;background:white">20,752,305 units.</span><span style="font-size:12.0pt;line-height:115%;mso-fareast-font-family:
&quot;Times New Roman&quot;;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin"><o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-fareast-font-family:&quot;Times New Roman&quot;;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin">Here, it must be noted that the country witnessed 154 percent <span style="background:white">year-over-year growth from FY22's 458,746 units, to FY23's 11,65,057 units. This reflects the surge in consumer demand and growing awareness for cleaner and greener modes of transport in the face of high petrol, CNG, and diesel prices.</span><o:p></o:p></span></p>

<p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt;
line-height:115%;mso-fareast-font-family:&quot;Times New Roman&quot;;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin"><o:p>&nbsp;</o:p></span></p>


Tesla, which dominates the EV segment, delivered increased sales amid slower economic growth and ever-rising interest rates.

Tesla is a pioneer in electric vehicle industry.

The company reported record deliveries in the first quarter of the year

It had slashed its prices to appeal to consumers amid rising interest rate enviornment

Tesla is pioneer in EV industry

Tesla posts impressive first quarter sales despite escalating interest rates & inflation

Tesla posts impressive first quarter sales 

<p>Some of the top automobile manufacturers in the world are expanding their EV portfolio and adding new tech to their lineups to improve the driving experience. In this section, we get you the latest news and updates from the world of Electric Vehicles.&nbsp;</p>


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