Prime Minister Flags Off OIL’s Hydrogen Bus At India Energy Week, Simple Energy Raises Funding Of $20 Million, And Much More...

Simple Energy ?raises $20 million in its ongoing Bridge round.?These funds will be used in a gradual manner to increase the production of the Simple ONE #electrictwowheeler. The Bridge round saw investors from all over the country participate in the Round. This included the Founder of Thyrocare Technology, Dr. Arokiaswamy Velumani, Ashwin Hinduja, Gokaldas Group, Nash Industries’ owner, Sanjay Wadhawa and Sandeep Wadhawa, Chief Strategy and Evangelist, CEO’s office, Lambda Test’s Sripriya Kalyanasundaram, Purple Moon Ventures with existing investors, Vasavi Green Tech and Manish Bharti.

Prime Minister Shri Narendra Modi flagged off Oil India Limited ’s (OIL) indigenously developed #hydrogen #fuelcell based #ebus at the India Energy Week (IEW) in Bengaluru on 6th?February 2023. The bus is a hybrid of an Electric Drive and a Fuel Cell, the Fuel Cell uses hydrogen to produce electricity which drives the electric motor & also charges the auxiliary battery that provides back-up power during acceleration and braking.

The Union Minister of State for Heavy Industries, Shri Krishan Pal Gurjar in a written reply to a question in Lok Sabha informed that in order to promote the adoption of #hybrid and #electricvehicles in the country, the Government launched the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme since 2015. Presently, Phase-II of the FAME India Scheme is being implemented for a period of 5 years w.e.f.?01st April 2019 with a total budgetary support of Rs. 10,000 crores.

JBM Group ’s new portfolio of #electricmobility products will allow it to enter the #electricbus market in Ladakh, Jammu & Kashmir, Chandigarh, Punjab, Himachal Pradesh, and Haryana.?According to a report, the electric city buses of the company are currently operational in 12 states. Arya stated in the release that the government is aiming to improve domestic EV manufacturing by increasing customs duty on imports. This is a reflection its larger shift towards green growth.

Bike Bazaar is a pre-owned two-wheeler financing firm that has completed its Series D round with an equity raise of Rs 250 crore. The company announced it had raised Rs 82 crores from DEG, which is a Germany-based development financing institution. It is a subsidiary of KfW Group and is part of Women World’s Banking Asset Management, Elevar Equity, and Faering Capital. According to the company, 海通证券 India was the advisor and investment banker for the round of Bike Bazaar.