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Govt might offer sops for EVs

May 14, 2018, 10:25 PM IST by Omkar Thakur
Govt might offer sops for EVs

- Up to Rs 30,000 off on electric bikes up to Rs 1.5 lakhs

- Cab-aggregators, bus services are the primary targets

The government of India is mulling over the idea of offering cash sops for early adopters of electric vehicles in India. Those who scrap their existing car and opt for a new electric car will be entitles for discounts up to Rs 2.5 lakhs on the price of the new car. But for that, you will have to scrap your old car at a certified scrap yard and get the appropriate certificates.

This scheme is still in the draft stages as a part of the Rs 9,400cr expenditure earmarked to boost electric car sales in India. While these sops will be offered to cab aggregators and bus services for any cars, for private buyers, the sops will be valid for scrapping only BS-III and earlier cars. This scheme under the FAME initiative aims to encompass almost five lakh vehicles, with most of them being two and three wheelers.

The government is also working towards improving the electric charging infrastructure with at least one charging point every 9 in metro areas and a charging station every 25kms on the national highways as the first step. An amount of Rs 500 cr has also been earmarked for venture capital to encourage start-ups in this space. 

The above draft scheme comes as a dampener to the hopes of the automotive industry that was lobbying for a measured gradual transition from IC engines to hybrids to electrics.

Tags:Mahindra,Mahindra e2o Plus,e2o Plus
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