{"id":25075,"date":"2024-04-12T17:23:05","date_gmt":"2024-04-12T17:23:05","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/12\/ev-industry-must-learn-to-do-with-subsidies-exponent-energy-ceo\/"},"modified":"2024-04-12T17:23:05","modified_gmt":"2024-04-12T17:23:05","slug":"ev-industry-must-learn-to-do-with-subsidies-exponent-energy-ceo","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/12\/ev-industry-must-learn-to-do-with-subsidies-exponent-energy-ceo\/","title":{"rendered":"EV industry must learn to do with subsidies: Exponent Energy CEO"},"content":{"rendered":"
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The electric mobility ecosystem must learn and survive without the Faster Adoption and Manufacturing of Electric Vehicles (FAME) subsidies, cofounder and chief executive of Lightspeed India-backed energy-tech startup Exponent Energy<\/a>, Arun Vinayak, told ET on Friday. <\/p>\n

\u201cThis whole concept of I’ll give everyone subsidy and rely on FAME in some sense is a good place to start. But I think it’s also a lazy way to continue going. So I think you’ll see a lot more performance-based incentives and production-linked incentives. You will still see incentives but it won’t be an easy give-out,\u201d he said. <\/p>\n

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Vinayak\u2019s comments come at a time when the government has withdrawn FAME-II subsidies at the end of March, moving on to the Rs 500-crore Electric Mobility Promotion Scheme<\/a> (EMPS), 2024. <\/p>\n

Founded in 2020 by former Ather Energy executives Vinayak and Sanjay Byalal Jagannath, the company has developed a proprietary fast-charging technology that claims to fully charge a vehicle in 15 minutes. Most fast-charging options in the market only allow up to 80% charge from zero charge, and take upwards of an hour for this.<\/p>\n

Tarun Mehta, cofounder and chief executive of electric scooter maker Ather Energy, said the overall two-wheeler EV industry would require government subsidies to continue to grow at a healthy rate, ET had reported earlier.<\/p>\n

According to Vinayak, interoperability in charging infrastructure is good, but standardisation is bad. \u201cThe government should focus on creating safety standards but not force a standard because that will kill innovation,\u201d he said. <\/p>\n

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On February 20, ET reported that officials, especially from the ministry of power, have been regularly consulting with firms in the electric vehicle (EV) ecosystem to push interoperability between battery-charging standards.<\/a>The company plans to install 100 charging stations in Delhi-NCR and Bengaluru this year while expanding its network in Chennai, Ahmedabad, Kolkata, and Hyderabad. It also intends to enter the intercity e-bus segment in 2024. <\/p>\n

In December 2023, it raised $26.4 million in a funding round led by Eight Roads Ventures.<\/a> It has raised $44.4 million in total so far. The company started selling its products in February 2023, and is looking to clock Rs 600 crore in revenue for calendar year 2025.<\/p>\n<\/div>\n


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The electric mobility ecosystem must learn and survive without the Faster Adoption and Manufacturing of Electric Vehicles (FAME) subsidies, cofounder and chief executive of Lightspeed India-backed energy-tech startup Exponent Energy, Arun Vinayak, told ET on Friday. \u201cThis whole concept of I’ll give everyone subsidy and rely on FAME in some sense is a good place […]<\/p>\n","protected":false},"author":2,"featured_media":25076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/88591548.cms","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[355,2988,30203,30202,30204,30200,30205,30201,30199,30198,617,1668,15678],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/25075"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=25075"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/25075\/revisions"}],"predecessor-version":[{"id":25077,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/25075\/revisions\/25077"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/25076"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=25075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=25075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=25075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}