Electric scooter fires undermining India's bid to become leader in EVs

The fires in Indian EVs have also sparked debate about India's dependency on imported auto parts that are then assembled locally

A spate of high-profile battery fires is undermining India's bid to become a leader in electric vehicles, particularly in the ubiquitous two-wheelers that ply the country's traffic-clogged roads.

Social media is awash with videos of battery-powered scooters in flames. Last month, a father and daughter died from smoke inhalation after their brand-new bike from Okinawa Autotech Pvt caught fire while it was charging overnight at home.

In another video, an Ola Electric Mobility Pvt scooter burns in Pune in the country’s west, while in another, some 40 two-wheelers made by Jitendra EV go up in smoke as they are transported in...read more

Comments

Post a Comment

Popular posts from this blog

Are current inflation worries overstretched for the markets?

Image
With the economy facing inflationary pressures, concerns are mounting about its impact on markets and corporate performance. But are the fears overstretched? Is there a silver lining for investors? Record high inflation levels in India and overseas continue to dent investor confidence as disrupted supply chains due to the Russia-Ukraine crisis build up price pressures on the economy. However, an analysis of historical data shows that high inflationary environments are not necessarily unfavourable for... read more
Read more

Startup firms let Indian retail investors buy corporate debt at $130

Image
The new start ups are seeking to reassure investors they are doing all they can to protect their clients Start-up firms selling corporate bonds to retail investors are booming in India. At least 10 new financial technology platforms have sprung up during the pandemic with the aim of grabbing a share of the $1.9 trillion market for bank time deposits. They promise much higher interest rates through putting money into company bonds, which are generally seen as riskier higher-yielding debt. The firms are riding on efforts by the Reserve Bank of India to encourage retail investment in sovereign debt as... read more
Read more

Banning of crypto poses challenges: IMF chief

Image
Gopinath's comments come at a time when the government is looking to bring a Bill on cryptocurrency regulation International Monetary Fund (IMF) chief economist Gita Gopinath said on Wednesday that cryptocurrencies were proving to be a challenge for emerging markets and that strong regulation was needed for the sector. She, however, said there were practical obstacles to banning cryptocurrencies, given their decentralised nature. Gopinath’s comments come at a time when the government is looking to bring a Bill on cryptocurrency regulation. It is learnt however, that the Union Cabinet on Wednesday did not take up the Bill for consideration. With the current Winter Session ending on December 23, the chances of it being tabled in Parliament seem remote. Speaking at an event organised by National Council of Applied Economic Research (NCAER), Gopinath also said that India’s fiscal and monetary policies will both need to be accommodative for the next few quarters, given the continuing un
Read more