FAME 3 Incentive Scheme Rolls Out Soon
FAME 3 is likely to increase subsidies for electric buses purchased by State Transport Undertakings (STUs) compared to FAME 2, which incentivized the purchase of 7,000 electric buses.
$2.5 Billion Qatar Green Bond Attracts Strong Investor Interest
Underscoring the growing appetite for sustainable investment opportunities globally, the $2.5 billion green bond was met with overwhelming investor interest, attracting bids worth more than three times the offered amount.
Middle East Round Up
Major sustainable News from Middle East this week.
Volvo Revs Up for Hydrogen Trucks: Trials Begin in 2026
These trucks utilize High Pressure Direct Injection (HPDI) technology. A small amount of ignition fuel, potentially renewable hydrotreated vegetable oil (HVO), is used to start the engine before switching to hydrogen.
Kia Unveils New EV3 Electric SUV with 600km Range
This compact SUV is scheduled for a South Korean launch next month, with European markets following by late 2024.
Carbon Pricing Generates Record $104B Revenues in 2023, Says World Bank
There’s been a positive rise in carbon pricing adoption, particularly among middle-income nations like Brazil, India, and Turkey.
L&T Metro Rail Hyderabad Transitions Completely to Solar Power
The company plans to fulfil 100% of its energy needs with solar power, aiming for carbon neutrality by 2040 and water neutrality by 2035.
Xiaomi Makes Big Bet on Premium Electric Car Market
The company, known for its affordable smartphones and smart home devices, surprised many by unveiling its first EV, the SU7, at the Mobile World Congress in Barcelona.
Tata Electric Vehicle Unit Gears Up for $1-2 Billion IPO
This follows TPEML’s successful securing of $1 billion in funding from TPG in January 2023 as part of its ambitious $2 billion investment plan for the EV segment by 2026.
Israel’s StoreDot Achieves 160km Battery Range for EVs in 4-minutes Charging
The production delivery of these fast-charging batteries is expected in 2026