Maharashtra EV policy, FAME II to accelerate adoption: JBM Auto

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Maharashtra government has issued a new electric vehicle (EV) policy. This policy aims to make 10 percent of the new vehicle registrations under electric and have 25 percent electrification of public transport and last mile delivery by 2025. Maharashtra is also looking to convert 15 percent of the state-run buses to electric. Nishant Arya, Vice Chairman and MD of JBM Auto, discussed the impact.

Maharashtra government has issued a new electric vehicle (EV) policy. This policy aims to make 10 percent of the new vehicle registrations under electric and have 25 percent electrification of public transport and last mile delivery by 2025. Maharashtra is also looking to convert 15 percent of the state-run buses to electric. Nishant Arya, Vice Chairman and MD of JBM Auto, discussed the impact.
“This policy gives a clear direction for the next four-five years’ horizon and with FAME-II also going up to March 2024 – both put together will give the right momentum to the sector,” he said.
JBM Auto is providing the whole electric ecosystem – the electric buses, charging infrastructure, power infrastructure, complete operations and maintenance, the right battery technology and battery management system.
“We are going for the highest level of localisation for all these products in India. Our vehicles are already plying in Navi Mumbai for two years. We have about 200 vehicles in the region and in other parts of the country also, we have been deploying all the key metros,” he shared.
The charging stations of EVs is a very important part. “Having the right infrastructure in place where vehicles can be charged time-to-time would bring about the change and awareness which is required for adoption of EVs,” he mentioned.
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MSRTC has about 18,000 buses out of which 15 percent being EVs would mean close to 2,500 buses. “That is a great opportunity for companies like us. MSRTC is also looking at 25 percent of the intra-city buses to be converted soon to EVs. So, we would be aiming at taking a lion’s share in Maharashtra and other states,” he explained.
In terms of cost dynamics between the normal buses and electric buses, he stated, “Because the buses are customized in every city, what remains constant are battery prices. In 2010, it was about USD 1000 and now it has come down to almost USD 250-300 for the high-end lithium-ion batteries. I feel that in the next five years, this should be half. That would ensure that by FY26 or FY27, we will be hitting parity in electric buses for sure.”
“In our organization, we have allocated about Rs 500 crore in last couple of years, which we are investing into EV technology,” he shared.
For the full interview, watch the accompanying video.

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