AUTHORED BY: NITYANT AGARWAL
THE ELON MUSK AND MODI CONFLUENCE
In a convention between Elon musk and PM Narendra Modi on 21st June 2023, they bandied a multitude of propositions, some of which were discerning India's technological futurity. The corollary of the meeting aligned with Musk's chimeric vision of aggrandizing Tesla to India. On 15th march 2024, Ministry of Heavy Industries acquainted a new policy for global leviathans in the EV market pledging USD 500 million or more in investment and a manufacturing manufactory within 3 years. The new policy comes with disrated import impositions for
EV manufacturers to 15% as opposed to the antecedent 70- 100% on vehicles possessing a CIF value of at least USD 35,000 for a period of 5 years from the date of issuance of the approbation letter by the Government of India.
THE PREVALANCE OF AN OLA - UBER DUOPOLY
Blind eyeing smaller players like Rapido ,Meru ,Blusmart and the like in the digital shared mobility sector, there persists an unofficial duopoly betwixt Ola and Uber in the ride-sharing
industry in India, with Ola having a magnanimous 41% share and Uber just shy of a momentous 37% command on the commercial transportation sector. Uber CEO Dara Khosrowshahi stated that Uber India is functioning at a breakeven point at the operational level.The primary reason for the same is the reinvestment of their surpluses from other products in green products in Tier-II and Tier-III cities. Consequentially, Uber has orchestrated a Rs. 3500 crore contract with Tata Motors to receive a supply of 25,000 Express T-EVs
ADANI’S ADMITTANCE IN THE MARKET
The Adani Group has committed to investing USD 100 billionin Indi's renewable energy transition by establishing a nationwide network of electric vehicle (EV) charging stations.
Recently, the group participated in bids administered by CESL for 3,600 electric buses.
Gautam Adani and Dara Khosrowshahi have an existing partnership, with Adani Group's airports featuring designated Uber pickup areas. During a recent meeting, they phoenixed
the possibility of integrating Uber services into a unified "mega app" developed by Adani. Inline with their collaborative vision, Adani aims to procure and manage an EV fleet for Uber. In light of the expanding accessibility of the Indian EV market, a surge in competition is anticipated among domestic entities such as Tata Motors and international giants like Tesla and
SAIC Motors. This heightened rivalry will coincide with substantial investments in the sector, leading to significant disruptions in the e-mobility market
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