Jitendra New EV Tech is a Nashik-based electric two-wheeler manufacturer that targets the Tier 2 and Tier 3 markets. According to co-founder Samkit Shah, the company intends to introduce vehicles that run on locally developed sodium-ion batteries by the end of 2025 or the beginning of 2026. Speaking about sodium battery technology, Shah said the company is in talks with two or three big Indian enterprises. The sodium batteries, which will be produced in India, he stressed, will be a supplement to the sodium cells that are currently purchased from China.
In light of India’s move toward electric cars (EVs), Shah’s remarks are relevant. Sodium-ion batteries, which are easier to source domestically, are starting to show promise as a competitive substitute for the widely used lithium-ion batteries in electric vehicles. Table salt and biomass from the forestry sector serve as the primary raw materials for sodium-ion batteries, making them more widely available domestically. Although China leads the world in sodium battery research, India is also making great strides. At an industry gathering in Bengaluru in December, Pune-based KPIT Technologies, which works with automakers on software integration, presented their sodium-ion battery technology.
Shah expressed confidence that the Indian electric two-wheeler market is poised to flourish, despite the uncertainties surrounding subsidies for these vehicles. He did, however, point out that maintaining present subsidies might be necessary in order to meet the government’s aggressive 2030 aim of 35–40% penetration. He warned that the goal might be missed by at least a year if subsidies stopped.
In order to keep offering financial aid for electric two- and three-wheelers, the Ministry of Heavy Industries unveiled the Electric Mobility Promotion Scheme 2024 earlier this month. The programme, for which a total of Rs 500 crore has been allocated, will run from April 1 to July 31. It attempts to provide incentives for two- and three-wheeled electric vehicles once the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme’s second phase ends on March 31.
The FAME II programme was extended till March 2024 after it was introduced in 2019 with a Rs 10,000 crore budget for three years that concluded in 2022. The FAME II budget was expanded by an extra Rs 1,500 crore last month. According to the government, automobiles sold up until March 31st, or until funds run out, would be eligible for subsidies under the program. The program has subsidized almost 1.47 million electric vehicles to date, comprising 1.30 million two-wheelers, 150,613 three-wheelers, and 18,794 four-wheelers.
