12 Billion
.. 2-wheeler EV sales drops by more than 90%
Hello there!
This Monday, we bring you a few curated updates from differnt set of industries - right from EV to Fintech.
One of the highlights is the drop in sale of 2-wheelers (EV). There is more than 93% drop after the govt announced subsidies on localization sourcing. What the industry however wanted was more consumer subsidies - hopefully it will roll out soon.
Hero Electric Managing Director Naveen Munjal said that technically one year has almost been "wiped out from our balance sheet" !
EV sales drop; FAME II subsidies need to be reworked
As per SMEV data, sales of FAME II qualified electric two-wheelers in April-December 2019 period stood at just 3,000 units as against 48,671 units in the year-ago period when FAME I was in place, a decline of 93.84 per cent.
The government needs to have a rework on FAME II, especially eligibility criteria based on range and battery power while also relaxing localisation level, which will be 75 per cent from March this year, up from 50 per cent since March 1, 2019.
JioMart starts offering savings up to Rs. 3000 to users pre-registering before launch
JioMart has announced a pre-launch offer to attract customers.
While the company has confirmed the soft-launch of the platform, it is providing savings up to Rs 3,000 to those who pre-register for JioMart before the platform goes live, according to the company’s website. Registration includes details such as the name of the customer, mobile number and pin code.
Jio always gets GTM right !
Govt plans quarterly, half-yearly financial statement norms for unlisted firms
The corporate affairs ministry is looking at introducing provisions in the companies law that would require unlisted firms to furnish financial statements every three months or six months.
The aim is to have updated financial details about systemically-important companies that are not listed.
Huawei gets Indian government nod to participate in 5G trials
India’s nod to Huawei comes at a time when the global rollout of 5G technology has been complicated by US sanctions against the company. The United States has been lobbying allies not to use Huawei’s network equipment in their 5G networks.
New Year Eve: Indian Users sent 20 Billion messages on WhatsApp
Out of that recording-breaking number, India accounted for one-fifth of the net message exchanges.
Over 100 billion messages were shared globally on December 31 in the 24-hour duration leading up to the midnight of New Year’s Eve. This is a record-breaking volume, and is the highest number of messages exchanged in a single day ever since WhatsApp kicked off its services ten years ago. Out of those 100 billion+ messages shared on New Year’s eve, WhatsApp says over 12 billion were images.