To promote the sale of electric vehicles in the Indian market, the government will give discounts of up to ₹50,000 to the customers. Additionally, the government will also provide low-interest loans for electric vehicles. According to the news published in ET Auto, the aim of the government is to promote electric vehicles in India. The government ent wants to promote the purchase of electric vehicles through these policies to reduce the carbon footprint on our environment.
A senior government official has said that the aim of the government is to reduce the cost of electronic vehicles so that it’s closer to the cost of owning traditional vehicles. This would give further incentive to the public to make decisions that will benefit the environment. Going one step further, the government has also waived off registration and parking charges for the owners of these vehicles.
The Electric Vehicles (EVs) aren’t as popular in India due to being almost twice as costly compared to regular petrol-diesel options. Lack of infrastructure to mass produce them at a lower cost also adds to the overall cost of the vehicle. In addition, electric vehicles have fewer choices than petrol and diesel vehicles. Sales of total electric vehicles in India has been 56,000 units during the year 2018, whereas in FY 2017 the figure was 25,000 units. Out of this, the electric two-wheeler dominated by 54,800 units, which was 23,000 units in the previous financial year. However, the electric four-wheelers have seen a decline of 2,000 to 1,200 units in the financial year 2018.
The discount given to customers depends on the model of the electric vehicle and the size of the battery used in them. Apart from this, those who purchase electric vehicles will also be given a discount on parking charges and free in some places. Apart from this, registration and road tax for electric vehicles have been made free in many states. When the plan is enacted, it will be implemented in the whole country.