Government offers Lucrative Incentives for Electric Cars

Saturday 11 April 2015, 13:41 PM by

Anant Geete, the Union Minister of Heavy Industries and Public Enterprises, has launched a new scheme for the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME). This announcement was made at the Department of Heavy Industry (DHI) of the Indian Government, closely in association with the Society of Indian Automobiles (SIAM). The government has made an announcement that it will offer incentives up to Rs 29000 for two-wheelers and Rs 1.38 lakhs for cars under this scheme. Also, the government has decided to spend Rs 795 crores in the first two financial years under this scheme.

Government offers Lucrative Incentives for Electric Cars | CarTrade.com
Government offers Lucrative Incentives for Electric Cars

The scheme will be initially launched in the metropolitan cities and will be later be implemented across Tier I and Tier II cities. The battery-run motorcycles and scooters will also get incentives, which would range from Rs 1800 to Rs 29000. In the case of hybrid or electric cars, the incentives will be of the range of Rs 13000 to Rs 1.38 lakhs. Union Minister for Heavy Industries, Anant Geete 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."

The three-wheeler and the light commercial vehicles will also get incentives. The government has decided to pay Rs 3000 to Rs 61000 for three-wheelers and Rs. 1.87 lakhs to light commercial vehicles. The incentive for hybrid or electric buses will be Rs 34 lakhs to Rs 66 lakhs. Vishnu Mathur, Society of Indian Automobiles manufacturer said, "This is a giant step toward cleaner mobility. This is a new generation technology, which India has started late and with this we are going to make a beginning."

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