2018-05-21
Thinking of Buying an Electric Car? Indian Government has an Offer You Can't Refuse

We all want to get rid of petroleum products because of the pollution, it’s our number one enemy. For the younger generation, today is a complete no. It's outdated and when we have something better way to go for a pollutant.  However, in the current scenario, electric vehicles can be your best option. One of the biggest advantages of going the electric vehicle way is that you will make some great savings and contribute to a better environment.

And, if you are thinking of buying an electric car, then it’s time to rejoice because you may get a rebate of up to INR 2 lakh from the government on your new electric car.

Major Push to Promote E-vehicles :

According to a TOI report, as part of an INR 9,400-crore package for electric and hybrid vehicles, the government may offer incentives of up to INR 2.5 lakh to those scrapping old petrol or diesel vehicles along with sops for investment to manufacture parts such as motors in the country. The incentives will benefit cab aggregators and bus fleet owners. As per the news, owners of electric cars, operating as taxis, are likely to get sops of INR 1.5 to 2.5 lakh for vehicles that cost up to INR 15 lakh. On the other hand, under the draft policy, the buyers of electric two-wheelers that cost up to INR 1.5 lakh will receive incentives of around INR 30,000.

It’s Not An Easy Road:

The government’s new plan will surely give a big boost to electric vehicles in India. In 2017, the Narendra Modi government set itself an ambitious target to allow only electric cars in India by 2030.

The then Minister of State with Independent Charge for Power, Coal, New and Renewable Energy, Piyush Goyal expressed that the government will help establish charging stations to start with and later through franchisee model, create jobs for lakhs of entrepreneurs to establish charging stations across the country.

But it seems there is no easy answer to whether or not India will go all-electric on the Indian roads by 2030.

According to an OECD report (The Organisation for Economic Co-operation and Development ), India is regarded as a country providing the least subsidies, compared to other major markets, to renewable energy in electric vehicle and that may hamper the government’s target of achieving the all-electric target by 2030. The dream of going all electric can be realized by empowering companies that are building e-vehicles in India.

Automobile giants like Mahindra, Tata and Hyundai have already rolled out various projects to make electric cars in India. Now it would be interesting to see if government’s latest move towards the adoption of e-vehicles will help achieve its long-awaited dream.

Source- Entrepreneur India