The Indian government is set to announce a significant subsidy of Rs 2.5 lakh on electric vehicles, including cars, e-buses, and e-bikes.
This move is part of the government’s efforts to promote the adoption of electric vehicles and reduce pollution in the country.
Indian Govt To Offer Subsidy of Rs. 2.5 Lakh For Electric Bikes
The subsidy is expected to make electric vehicles more affordable for consumers and encourage their widespread use.
The subsidy will be implemented under the Fast Adoption and Manufacturing of (Hybrid and Electric Vehicles) India (FAME-2) scheme, which is aimed at promoting the manufacturing and adoption of electric vehicles in India.
The central government will provide the subsidy, which will be distributed to different states across the country. Some states have also announced additional subsidies to further incentivize the purchase of electric vehicles.
For example, the Maharashtra government has already announced a subsidy of Rs 5,000 per kilowatt on e-vehicles. In addition, the state government has introduced an electric vehicle policy that offers a subsidy of up to Rs 1.5 lakh to the first 10,000 buyers of four-wheeler electric vehicles.
This means that buyers can avail a total subsidy of Rs 2.5 lakh, making electric vehicles more affordable and attractive.
Delhi Govt Announced Subsidy of Rs. 1.5 Lakh
Similarly, the Delhi government has announced a subsidy of Rs 1.5 lakh on e-vehicles, which will be provided to the first 1,000 buyers of these vehicles. The governments of Uttar Pradesh, Gujarat, and Uttarakhand have also introduced subsidies for electric vehicles, offering discounts ranging from Rs 1 lakh to Rs 1.5 lakh.
These subsidies aim to accelerate the adoption of electric vehicles in India by reducing the upfront costs for consumers. By making electric vehicles more affordable, the government hopes to encourage more people to switch to cleaner and greener modes of transportation, thereby reducing pollution and dependence on fossil fuels.
The announcement of these subsidies is expected to boost the electric vehicle market in India and drive the growth of the electric vehicle industry. It will not only benefit consumers but also contribute to the country’s sustainable development goals and efforts to combat climate change.
