Hero Future Energies (HFE), a renewable energy producer backed by the Munjal family is set to enter the electric vehicle (EV) charging sector in India. Chief executive officer Sunil Jain said that the company plans to enter into the battery storage business to set up charging stations across the country.
This move coincides with a proposal from the Department of Heavy Industries (DHI) to set up standard specifications for EVs and charging infrastructure under the name ‘Bharat Charger’.
Technology is changing very fast. We are looking at solar charging stations.Hero Future Energies CEO Sunil Jain
HFE said that their plan was to charge batteries and replace drained batteries in vehicles after a trip was completed.
At the same time, Pawan Munjal-promoted Hero Motocorp, which acquired a 30 per cent stake in Bengaluru-based electric scooter manufacturer Ather Energy, plans to enter the charging sector, reports Livemint.
The government is planning to have its EV policy in place by the end of 2017, and further set the taxation rates for EVs at 12 per cent as opposed to 28 per cent for petrol and diesel vehicles in the upcoming Goods and Services Tax (GST) bill.
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