Hybrid and electric vehicles to get cheaper in India

The government has announced incentives on hybrid and electric vehicles under the recently launched FAME India (Faster Adoption and Manufacturing of Hybrid and Electric vehicles in India) scheme. With this coming in place soon and clarity on the same, hybrid and electric vehicles will get cheaper in India.

The FAME India scheme was formulated mainly with an intention to promote green vehicles in our country. This scheme is a part of the National Electric Mobility Mission Plan. The incentives our government will offer under the scheme on hybrid and electric vehicles will be of up to Rs 29,000 for two-wheelers and Rs 1.38 lakh for cars.

The government will invest a capital of Rs 795 crore under this scheme in the first two fiscal years. In the beginning, the scheme will be launched in metropolitan cities and will follow suit in all major and smart cities in India. The incentives for battery-run motorcycles and scooters will be in the range of Rs 1,800 to Rs 29,000. For electric or hybrid cars, this incentive varies from Rs 13,000 to Rs 1.38 lakh.

The government will also give incentives for electric/hybrid three-wheelers and light commercial vehicles. For the former vehicles, the incentives will range from Rs 3,000 to Rs 61,000 and for the latter, Rs 17,000 to Rs 1.87 lakh. There will be incentives for buses as well which are from Rs 34 lakh to Rs 66 lakh.

Anant Geete, Union Heavy Industries Minister, said, "We are starting the scheme in metropolitan cities. Eventually, the scheme will be launched in Smart Cities and all major cities across the country."

Source: NDTVAuto