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2024 Smartphone Releases: February Edition – Xiaomi, Oppo, Nothing

2024 Smartphone Releases: February Edition

Key Highlights

  • From Nothing Phone (2a)’s affordability to Honor’s X9B, options.
  • iQOO Neo 9 Pro packs the Snapdragon 8 Gen 2, while rumours hint at a Xiaomi 14 Ultra flagship.
  • Expect surprises and official announcements as brands unveil their latest at the MWC.

While January saw big names like Samsung and OnePlus unveil their latest flagships, February promises an even bigger wave of smartphones ahead of the Mobile World Congress (MWC). From budget-friendly options to powerhouse performers, let’s dive into what’s coming your way:

Also Read: Budget 2024: Are TVs, Refrigerators, And Smartphones Set To Get Cheaper?

1. Nothing Phone (2a)

  • Nothing’s mysterious Phone (2a) is arriving soon, possibly at MWC.
  • Expect sleek black and white options, 8GB RAM, 128GB storage, and a price tag under €400 (roughly Rs. 37,000).
  • Rumors hint at exciting companion products like CMF Buds and CMF Neckband Pro.

Also Read: How To Use Nothing Chats For “iMessage” From Android

2. iQOO Neo 9 Pro

  • This premium mid-ranger launches February 22nd, boasting the powerful Snapdragon 8 Gen 2 chipset.
  • Choose from 8GB/256GB or 12GB/256GB storage variants.
  • Capture stunning photos with the 50MP Sony IMX920 main camera and 8MP ultrawide sensor.
  • Power through your day with the 5,150mAh battery and 120W fast charging.

3. Honor X9B 5G

  • Honor joins the party on February 15th with the X9B 5G, featuring a 6.78-inch AMOLED display and a 108MP main camera.
  • The Snapdragon 6 Gen 1 processor ensures smooth performance, while MagicOS 7.2 keeps you updated.
  • Its “unbreakable curved display” and slim profile promise a premium look and feel.

Also Read: Honor X9b India Launch Date Confirmed, Listing Appears On Amazon

4. Xiaomi 14 Ultra

  • Rumours swirl around a possible MWC launch for the Xiaomi 14 Ultra, the ultimate flagship in the 14 series.
  • Expect top-of-the-line specs and features, but pricing and availability remain under wraps.

5. Oppo F25 5G

  • The popular F-series might see a comeback with the F25 5G, rumoured to be a rebranded Reno 11F 5G.
  • ColorOS 14 on Android 14 and a 5,000mAh battery with 67W fast charging are expected highlights.

Also Read: Oppo Reno 11 5G Smartphone Review: Is The Stylish Design Backed By Performance?

With so much variety, February is shaping to be an exciting month for smartphone fans.

Stay tuned for more details and official announcements as we inch closer to MWC!

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Apps Featured Info

Bonjour Rupees! Eiffel Tower In France Becomes UPI-Friendly For Indian Visitors

Key Highlights

  • Iconic landmark Eiffel Tower now takes Indian payments through UPI
  • PM Modi celebrates UPI’s global impact on digital transactions
  • UPI transactions in 2023 cross 100 billion, with December alone hitting 12 billion at Rs. 18.23 lakh crore

In a significant development, the globally renowned Eiffel Tower has made history by becoming the first merchant in France to accept India’s UPI service. This milestone reflects the growing global influence of UPI and its potential impact on digital transactions. Also Read | No Card? No Problem: Here’s How To Withdraw Cash From ATMs Via UPI

Modi Applauds UPI’s Global Leap At Eiffel Tower

Prime Minister Modi expressed his enthusiasm for the UPI launch at the Eiffel Tower, deeming it a “wonderful example of encouraging digital payments and fostering stronger ties.” Through a social media post, he emphasized the event’s significance, marking a pivotal step towards taking UPI to a global audience.

NIPL And Lyra Collaboration: Enabling UPI In France

NPCI’s international arm, NPCI International Payments (NIPL), joined forces with Lyra, a prominent French company specializing in e-commerce and proximity payment solutions. This partnership aims to facilitate UPI acceptance in France, starting with the iconic Eiffel Tower. Indian tourists can now effortlessly initiate payments in Indian rupees by scanning a QR code on the merchant’s website.

Also Read | UPI Tips And Tricks: Here’s How You Can Set UPI PIN Without Using Debit Card Details

UPI’s Expansion Plans In France And Europe

NIPL and Lyra have ambitious plans to extend UPI services beyond the Eiffel Tower. Future endeavors involve introducing UPI payments to additional merchants in the tourism and retail sectors across France and Europe in the coming months. This move is expected to enhance convenience for users and further establish UPI as a global payment solution.

UPI’s Phenomenal Growth In India

Meanwhile, back in India, the UPI has witnessed remarkable growth. In 2023, the number of UPI transactions surpassed 100 billion, experiencing a substantial 60% increase from the previous year’s 74 billion transactions. The total transaction value in 2023 reached approximately Rs. 182 lakh crore, marking a notable 44% surge from 2022’s Rs. 126 lakh crore.

December 2023: A Record-Breaking Month For UPI

December 2023 proved to be a remarkable month for UPI, with transactions exceeding 10 billion, reaching an exact figure of 12 billion. The total transaction value for this month alone amounted to Rs. 18.23 lakh crore. According to the NPCI, daily UPI transactions in December surpassed an impressive 387 million, showcasing the widespread adoption and popularity of UPI in the country.

Also Read | Step Into Safety: Learn How To Change Your UPI PIN On Google Pay And PhonePe

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Apps Featured Info

Google Bard’s ImageFX AI Image Generator Launched: No More DeepFake Mishaps!

Key Highlights

  • Google releases new AI image generator for Bard
  • Is a text-to-image feature accessible via Bard
  • Uses Imagen 2 text-to-image AI platform

Google is enhancing is game with AI services. The search giant has just released a new AI image generator for Bard. Called ImageFX, the new text-to-image tool is Google’s secure AI platform for image creation using AI. Additionally, Google has improved the existing AI creation tools including MusicFX and TextFX Let’s know more of the latest AI image tool from Google and how it could help avoiding DeepFake accidents:

Also Read: Google Assistant With Bard Comes To Android, iOS: How To Use?

ImageFX AI Image Generator For Bard

ImageFX is the new-age AI image generation tool which has been developed by Google DeepMind. It uses enhanced AI technology for generating images via text. According to the brand, the latest tool uses Imaged 2 platform for producing high quality images when given text inputs for the same. Google with its latest update has also improved the MusicFX and TextFX AI creation tool.

Now Bard users will be able to give simple text prompts for image generation. ImageFX will is Google’s direct take on the Dall-E and Copilot from OpenAI and Microsoft respectively. Both of these are currently one the best AI-based image creation tools.

Also Read: How To Create Stickers On Instagram With Cutouts

How Is ImageFX Different From Dall-E And Microsoft Copilot?

ImageFX essentially uses Imagen 2 which is a powerful text-to-image platform laced with AI capabilities. What differentiates it from OpenAI’s Dall-E and Microsoft Copilot is the in-house “expressive chips” tech. Now, this technology allows users to experiment with the surrounding dimensions while creating an image.

Also Read: Think You Can Fake A Sick Day? AI Can Now Detect Fake Sick Leave

Improved Security With ImageFX AI-Image Generation Tool

Google claims ImageFX addresses all the concerns with AI-image generation. That’s considering the text-to-image creation tools have been creating more negative headlines than positive. Multiple Deepfake incidents involving popular personalities have raised all concerns with user safety and privacy.

ImageFX is said to have come with a solution which will avoid Taylor Swift-like Deepfake incident that grabbed all the headlines recently. To avoid such mishaps, images created using the Bard’s ImageFX text-to-image AI generator tool will have a SynthID watermark.

Also, the AI will keep a specific check on the keywords with the name of popular personalities such as celebrities and politicians. Not just this, it will also keep a check on explicit keywords specifically involving children. This will essentially allow the masses to differentiate between an original image and the ones that are created using ImageFX.

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Featured Info Mobile

Lava Unveils Yuva 3: 90Hz Display, 128GB Storage, And Fast Charging Starting At Rs. 6,799

Key Highlights

  • Lava Yuva 3 is equipped with UNISOC T606 Octa-core Processor
  • The smartphone features a side fingerprint sensor
  • Yuva 3’s price starts from Rs. 6,799
  • Yuva 3 smartphone will be available for purchase starting February 7

Lava International introduces the Yuva 3 smartphone. It is specifically designed to meet the expectations of young Indian consumers, blending style and performance at an attractive starting price of Rs. 6,799. Here’s everything you need to know about the upcoming smartphone from the house of Lava. Also Read | Best Feature Packed Smartphones Under Rs. 10,000

Lava Yuva 3: Specifications

  • Design: The Yuva 3 boasts a premium back design with a side fingerprint sensor.
  • Display: The smartphone provides an immersive viewing experience with its 90Hz 6.5-inch HD+ punch-hole display.
  • Processor: The Lava Yuva 3 is powered by the UNISOC T606 Octa-core Processor.
  • RAM: It features 4+4 (Virtual) GB RAM and a choice between 64GB or 128GB UFS 2.2 ROM. The device supports 18W Fast Charging through a Type-C USB Cable.
  • Camera: It integrates a 13MP Triple AI rear camera with a 5MP front camera for photography.
  • Battery: The device has a 5,000mAh battery that ensures long-lasting usage with a quick full charge.
  • Additional features: The device includes a bottom-firing speaker, stock Android 13, and face unlock for enhanced security.
  • Future Updates: Lava promises two years of assured security updates and a guaranteed Android 14 upgrade.

Also Read | Best New Gaming Smartphones Under Rs. 30,000 In India

Lava Yuva 3: Availability and Variants

4 + 4GB / 64GBRs. 6,799February 7– Amazon
4 + 4GB / 64GBRs. 6,799February 10– Lava E-store
– Lava Retail Network
4 + 4GB / 128GBRs. 7,299February 7– Amazon
4 + 4GB / 128GBRs. 7,299February 10– Lava E-store
– Lava Retail Network

The Lava Yuva 3 smartphone will be available for purchase starting February 7, 2024, on Amazon, offering two storage options: 64GB and 128GB. Lava’s retail network and the Lava e-store will feature the smartphone in three vibrant color variants: Eclipse Black, Cosmic Lavender, and Galaxy White, beginning February 10, 2024.

Also Read | Best Phones With Fast Charging Under Rs. 15,000

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Auto Tech Featured Info

Electric Vehicle (EV) Stocks Surge Following Indian Budget Declaration: Here’s Why

Key Highlights

  • Indian EV stocks surge after budget’s EV push.
  • Infrastructure push promises a convenient EV future.
  • Olectra, JBM Auto, and Greaves Cotton see big gains.

Investors in the electric vehicle (EV) space had something to celebrate yesterday as stocks in the sector surged following the government’s budget announcement. The budget, presented by Finance Minister Nirmala Sitharaman, outlined plans to accelerate India’s transition to electric mobility.

But is this just a temporary bump, or a signal of a long-term green wave? Let’s explore why you should consider adding Indian EV stocks after the budget boost.

Also Read: Budget 2024: Are TVs, Refrigerators, And Smartphones Set To Get Cheaper?

Budgetary Boost for EVs

  • Charging Infrastructure: The government pledged to support the development of EV charging infrastructure, a crucial factor for widespread EV adoption. This includes investments in setting up charging stations across the country, making it easier for people to own and use electric vehicles.
  • Electric Buses: The budget also emphasized the promotion of electric buses for public transport, potentially creating significant demand for EV manufacturers and component suppliers. This move aims to reduce emissions and improve air quality in cities.

Also Read: Tata Motors Unveils Future-Ready Magna EV, Ace EV Commercial Vehicle At Bharat Expo

EV Stocks on a Roll

News of the government’s commitment to EVs sent shockwaves through the stock market. Some key players witnessed impressive gains:

  • Olectra Greentech: The stock surged by a whopping 6.21%, reaching a new 52-week high.
  • JBM Auto: Shares climbed 4.96%, hitting a one-year peak.
  • Greaves Cotton: The company’s stock saw a 3% rise, reaching a day’s high.

Also Read: Skoda Enyaq EV Spotted In India, Fuels Anticipation For 2024 Debut

Beyond EVs: Budget’s Broader Green Focus

The budget wasn’t just about electric vehicles. It also included measures to promote other sustainable initiatives:

  • Compressed Biogas (CBG) Blending: The government mandated the blending of CBG into CNG, reducing dependence on fossil fuels and promoting renewable energy sources.
  • Biomanufacturing and Bio Foundry Scheme: This scheme aims to develop eco-friendly alternatives for producing biodegradable materials, further bolstering India’s green credentials.

Also Read: Skoda Enyaq EV Spotted In India, Fuels Anticipation For 2024 Debut

Looking Ahead

The budget’s focus on EVs and sustainability has sent a clear message: the government is serious about green growth. This is likely to fuel further investments in the EV sector, creating opportunities for companies and exciting prospects for investors. With the right policies and infrastructure in place, India could become a major player in the global electric vehicle market.

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Featured Info

Budget 2024: Are TVs, Refrigerators, And Smartphones Set To Get Cheaper?

Key Highlights

  • Sitharaman’s interim budget addresses post-election financial needs
  • Budgets show mobiles cheaper, bicycles costlier over time
  • 2023-24: TVs cheaper, air travel costlier.

On February 1, the Union Finance Minister, Nirmala Sitharaman, unveiled the interim budget, marking her sixth budget presentation. This session holds significance as it is the last one before the upcoming Lok Sabha elections scheduled for April-May. The interim budget aims to address financial requirements until a new government is formed post-election. The focus is on the anticipated changes in the costs of various items, particularly household appliances like televisions, refrigerators, mobile phones, and washing machines. Also Read | Here’s The List Of Best Smart Home Gadgets You Can Buy In India

Trends In Budgetary Changes

2014-15 Budget: Price Shifts

CheaperMobiles, computers, LCD TVs, diamonds, footwear
CostlierCigarettes, radio taxis, imported electronic items, imported garments

2015-16 Budget: Fluctuations in Prices

CheaperMinerals, chemicals, solar water heater systems, wind power generators
CostlierIced tea, mineral water, aerated drinks, bags, eating out, cigarettes

2016-17 Budget: Impact on Consumer Goods

CheaperFootwear, solar lamps, broadband modems, affordable homes
CostlierCars, cigarettes, air travel, readymade garments, gold, silver

2017-18 Budget: Shifting Economic Landscape

CheaperLED lamps, solar panels, rail travel, import of solar tempered glass
CostlierSilver coins, cigarettes, mobile phones, water filter membranes

2018-19 Budget: Economic Adjustments

CheaperSolar tempered glass, raw cashew nuts, cochlear implant raw material
CostlierCars, motorcycles, mobile phones, gold, silver, mattresses, diamonds

2019-20 Budget: Addressing Financial Dynamics

CheaperAffordable houses, set-top boxes, imported defense equipment
CostlierFully-imported cars, petrol, diesel, split ACs, cigarettes

2020-21 Budget: Navigating Economic Trends

CheaperRaw sugar, certain alcoholic beverages, agro-animal-based products
CostlierMedical equipment, footwear, tableware/kitchenware, cigarettes

2021-22 Budget: Adjustments in Precious Metals and Technology

CheaperGold, silver, leather products, nylon clothes
CostlierMobile phones, solar cells, imported gems, AC and fridge compressors

2022-23 Budget: Technology and Chemical Adjustments

CheaperImitation jewelry, computers, laptops, certain chemicals
CostlierUmbrellas, imported items, chocolates, smartwatches

2023-24 Budget: Recent Trends in Price Movements

CheaperTVs, smartphones, compressed gas, lab-grown diamonds
CostlierCigarettes, bicycles, imitation jewelry, air travel

Verdict

In the ever-evolving economic landscape, the annual budgets present a dynamic interplay between consumer goods, technology, and economic priorities. The interim budget, given its timing, adds a layer of anticipation as citizens await the impact on their daily lives.

Also Read | Interim Budget 2024: Govt’s Big Plans To Supercharge Electric Vehicle Growth

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Apps Featured Info

Paytm App Still Working After RBI Ban? Impact On Users

Key Highlights

  • Use it for shopping, bills, payments as usual.
  • No new deposits, FASTags, NCMC cards after Feb 29th.
  • Withdraw funds or switch UPI before Feb 29th.

The good news for most Paytm users is that the recent RBI restrictions do not impact the core Paytm app. You can continue to use it for online payments, recharges, bill payments, and other services as usual. However, these restrictions affect Paytm Payments Bank, a separate entity within the Paytm ecosystem.

Also Read: Step Into Safety: Learn How To Change Your UPI PIN On Google Pay And PhonePe

What Does the Ban Mean for Paytm Payments Bank Users?

Starting February 29, 2024, Paytm Payments Bank users will no longer be able to:

  • Add new money to their wallets or accounts.
  • Make credit transactions (including UPI transfers).
  • Receive new deposits (except interest, cashbacks, or refunds).

However, you can still:

  • Withdraw your existing balance without any restrictions.
  • Use existing funds in your wallet or account for payments.
  • Continue using your FASTags and NCMC cards (until available balance runs out).

Also Read: How To Pin A Message In WhatsApp Chat: A Step-by-Step Guide

Does This Affect the Paytm App?

No, not directly. The Paytm app itself is a separate entity and uses other bank partners for its core services. So, you can still use it for:

  • Online payments: Shopping online, bill payments, etc.
  • Offline payments: QR code payments, soundbox payments, card machine payments.
  • Existing wallet balance: Use the money already in your wallet for transactions.

Also Read: Apple CarPlay Not Working? Here’s How to Fix It

What Should You Do?

  • Move your money: If you use Paytm Payments Bank, withdraw your funds or transfer them to a different bank account before February 29th.
  • Switch UPI: If you use Paytm Payments Bank for UPI, link your account to a different bank for continued UPI transactions.
  • Use other payment methods: Explore other wallets or payment methods for future transactions.

Also Read: How to Use Google Circle to Search: Your Step-by-Step Guide

What’s Paytm Doing About the Ban?

Paytm is transitioning its services to other partner banks. This means you won’t be able to use Paytm Payments Bank in the future, but Paytm will continue to offer payment and financial services through different bank partners.

Also Read: Five Key UPI Transaction Changes For 2024

Impact on Paytm’s Business

Paytm expects this ban to have a financial impact of ₹300-500 crore on its annual earnings. However, the company remains optimistic about its future growth through partnerships with other banks.

Overall, while the Paytm app remains unaffected, Paytm Payments Bank users will face limitations after February 29th. Paytm is working on alternative solutions to ensure continued service.

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Auto Tech Featured Info

Bharat Mobility Global Expo 2024: Ola Unveils Diamondhead, Roadster, Adventure Electric Bikes

Key Highlights

  • Ola showcases Diamondhead, Roadster , Adventure at the BMGE.
  • Diamondhead boasts 300+ km range & 150+ km/h top speed.
  • Roadster targets 200-220 km range & 130-140 km/h.
  • Adventure motorcycle gears up for rough rides with tall seat, spoked wheels & 250+ km range.

Ola Electric steals the show at the ongoing Bharat Mobility Global Expo 2024, unveiling three stunning electric motorcycles: Diamondhead, Roadster, and Adventure. Teased last year with estimated specs and prices, these powerful machines promise to redefine the Indian EV landscape. Let’s delve deeper into each of these exciting models:

Also Read: Bharat Mobility Global Expo 2024: TVS Showcases Apache Electric Racing Bike

1. Ola Diamondhead

Geared towards international markets, the Diamondhead boasts a striking, diamond-shaped front profile that exudes futuristic charm. Its aggressive stance, sharp edges, and minimalist design are reminiscent of the Tesla Cybertruck, making it a head-turner on any road.

Key Features:

  • Global Appeal: Designed with international markets in mind, catering to a wider audience.
  • Futuristic Design: Diamond-shaped front, sharp edges, and minimalist aesthetic.
  • High Performance: Expected range of 300+ km and a top speed of 150-170 km/h.
  • Unique Features: Belt-driven system, hub-center steering, and aerodynamic cowl.
  • Expected Price: Above Rs. 4 lakhs, positioning it as the flagship model.

Also Read: Bharat Mobility Expo 2024: Mahindra BE.05 Rall.E EV Concept Debuts

2. Ola Roadster

The Roadster embodies the spirit of urban riding with its sleek, sporty design and focus on performance. Its inverted fork, mono-shock suspension, and disc brakes on both wheels promise a thrilling yet comfortable ride.

Key Features:

  • Sporty Design: Inverted fork, mono-shock suspension, and disc brakes for a dynamic ride.
  • Practical Choice: Chain drive system and mid-mounted motor for efficiency and ease of maintenance.
  • Estimated Range: 200-220 km on a single charge, exceeding current Ola scooters.
  • Expected Top Speed: Around 130-140 km/h, offering exhilarating performance.
  • Expected Launch: End of 2024, with pre-booking starting 3-4 months prior.
  • Estimated Price: Starting from Rs. 2 lakhs, ex-showroom.

Also Read: Hero Vida V1 Coupe DJ Jukebox Introduced At Bharat Mobility Global Expo 2024

3. Ola Adventure

Designed for the adventurous soul, the Adventure boasts tall seat height, dual-purpose tires, spoked wheels, and impressive ground clearance for conquering any terrain. Its powerful electric motor and long range ensure you can explore further, fearlessly.

Key Features:

  • Adventure-Ready Design: Tall seat, dual-purpose tires, spoked wheels, hand guards, and high ground clearance.
  • Off-Road Prowess: Chain drive system, mid-mounted motor, USD forks, and 19″ front/17″ rear wheels.
  • Long Range: Expected range exceeding 250 km per charge, ideal for extended journeys.
  • Fast Charging: Equipped with fast charging technology for convenience.
  • Multiple Riding Modes: Likely to offer various modes for adapting to different terrains.
  • Expected Launch: End of 2024, potentially carving a new niche in the Indian market.
  • Estimated Price: Starting from Rs. 2.5 to 3 lakhs.

Also Read: Ather 450 Apex Vs Ola S1 Pro: Top Electric Scooters Comparison

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Auto Tech Featured Info

Bharat Mobility Global Expo 2024: TVS Showcases Apache Electric Racing Bike

Key Highlights

  • India’s first electric racing bike with class-leading power-to-weight ratio.
  • Class-leading performance & efficiency with 59kW motor & advanced battery tech.
  • Carbon fiber chassis, Ohlins suspension, & aerodynamic fairing for speed & style.

At Bharat Mobility Global Expo 2024, TVS Motor Company unveilied the Apache Electric Racing Bike (RTE). This marks a significant step forward for electric vehicle (EV) adoption in India, particularly within the high-performance racing segment.

Also Read: Bharat Mobility Expo 2024: All About Toyota’s Lexus UX 300e EV

Apache Electric Racing Bike: Specification

SpecificationValue
Peak Power59 kW at 400V DC voltage
CoolingLiquid
Maximum Motor Speed5500 RPM
Maximal Battery Voltage at Max Load500 VDC
Efficiency98%
Image captured by Giznext team present at Bharat Mobility Global Expo 2024

The TVS Apache RTE electric racing bike is a powerhouse on wheels, featuring a peak power of 59 kW at 400V DC voltage. With efficient liquid cooling, it can reach a maximum motor speed of 5500 RPM. Operating at a maximal battery voltage of 500 VDC, the bike boasts an impressive 98% efficiency. This technological marvel showcases TVS’s dedication to delivering a high-performance electric racing experience.

Also Read: Bharat Mobility Global Expo 2024: Skoda Enyaq EV Debuts In India – Price, Specs & More

Apache Electric Racing Bike: Other Features

  • Dominant Power: The liquid-cooled motor delivers a class-leading power-to-weight ratio, ensuring electrifying performance.
  • Advanced Battery Technology: The bike utilizes a high-performance power cell battery pack with cutting-edge chemistry for extended range and sustained power delivery.
  • Lightweight and Agile: The carbon fibre battery case doubles as a stressed member of the chassis, contributing to remarkable weight reduction and exceptional handling.
  • Superior Suspension: Ohlin’s bespoke front and rear suspension provide precise control and optimal stability during high-speed maneuvers.
  • Uncompromising Braking: Brembo’s top-tier braking system, featuring a 320mm front disc, calipers, and master cylinder, guarantees exceptional stopping power.
  • Aerodynamic Edge: The carbon fibre fairing boasts a best-in-class drag coefficient, minimizing wind resistance for maximum speed potential.

Also Read: Bharat Mobility Expo 2024: Mahindra BE.05 Rall.E EV Concept Debuts

Apache Electric Racing Bike: Expected Timeline, Price

While the Apache RTE (Racing Electric) was unveiled in September 2023, it’s crucial to remember it’s not a commercially available motorcycle for purchase. It’s a dedicated electric race bike designed for the TVS Racing Electric One Make Championship (e-OMC) in India.

Therefore, there’s no official timeline or confirmed launch date for a consumer version of the Apache Electric Racing Bike. Additionally, the mentioned price range of 50-60 lakhs wouldn’t be applicable as the e-OMC bike is not intended for individual sale.

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Auto Tech Featured Info

Interim Budget 2024: Govt’s Big Plans To Supercharge Electric Vehicle Growth

Key Highlights

  • Budget 2024 prioritizes EV growth through manufacturing and charging support
  • 2023 sees substantial sales growth in EVs across categories
  • PLI and FAME schemes highlight strategic steps for boosting the EV ecosystem

In a significant announcement on Thursday, the government declared its commitment to expanding and fortifying the electric vehicle ecosystem in the country. The primary focus will be on supporting both manufacturing facilities and charging infrastructure, signaling a crucial step towards a sustainable and green transportation future. Also Read | EV Charging Tips And Tricks: Seven Ways To Find EV Charging Stations Across India

Encouraging Electric Buses In Public Transport

Underlining the government’s dedication to eco-friendly public transport solutions, Finance Minister Nirmala Sitharaman emphasized the encouragement of greater electric bus adoption. This will be simplified through the implementation of a payment security mechanism, promoting a cleaner and greener alternative for public transportation networks.

Impressive Growth In EV Sales

The decision comes on the heels of an impressive surge in EV sales throughout 2023. According to data from the Federation of Automobile Dealers Associations (FADA), electric passenger vehicles saw a remarkable 114.71% increase, electric commercial vehicles surged by 114.16%, electric three-wheelers grew by 65.23%, and electric two-wheelers climbed by 36.09%.

Strategic Initiatives For EV Growth

To push the growth of the EV ecosystem, the government has already introduced several strategic initiatives. The PLI schemes for the automobile and auto component sectors, as well as the ACC battery storage, aim to boost domestic manufacturing and attract investments in relevant value chains. The FAME scheme further supports EV adoption.

Financial Allocations And Scheme Progress

The PLI scheme for the automobile and auto component sectors boasts a total outlay of Rs. 25,938 crore over five years. With investments reaching Rs. 11,958 crore by Q2 FY24, the scheme has already gained traction. The PLI scheme for ACC battery storage, with a seven-year outlay of Rs. 18,100 crore, is also making strides, with approved firms gearing up for substantial investments.

Also Read | Winter Care Tips For Electric Vehicles: How To Keep Your EV Healthy In Cold Weather

FAME II Scheme Impact

Under the second phase of the FAME scheme, the government has provided subsidies amounting to Rs. 5,228 crore for the sale of 11,53,079 EVs as of December 1, 2023. The FAME II plan, with a budget of Rs. 10,000 crore over five years, aims to make public transportation electric. This includes buses, three-wheelers, cars, and bikes, along with building charging stations.

Charging Stations And Future Plans

In a notable move, the Ministry of Heavy Industries revealed that 148 EV public charging stations have been commissioned under the FAME II scheme. Additionally, a significant allocation of Rs. 800 crores was sanctioned to oil giants Indian Oil, Bharat Petroleum, and Hindustan Petroleum in March 2023 to establish 7,432 public fast-charging stations nationwide.

Outlook For Electric Buses

MHI disclosed that state transport undertakings, city transport undertakings, and municipal corporations have placed orders for 3,390 electric buses under the FAME II scheme. Out of these, 3,037 units have already been deployed, with plans for an additional 3,472 electric buses currently in progress through Convergence Energy Services Ltd (CESL).

Verdict

As Finance Minister Nirmala Sitharaman stated while presenting the Interim Budget 2024, the government’s overarching goal is to create a robust and sustainable EV ecosystem by supporting manufacturing and charging infrastructure, laying the foundation for a cleaner, greener, and technologically advanced future in the transportation sector.

Also Read | FAME II In Focus: Government Considers Extending Scheme For EVs In 2024 Budget