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News and Trends

Government Going the Extra Mile to Boost Electric Vehicles

Modi led NDA government is pushing out policies and incentives to achieve the desired target of 30 percent EVs by 2030
Government Going the Extra Mile to Boost Electric Vehicles
Image credit: graphicstock
Entrepreneur Staff
Features Writer
3 min read

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

The electric vehicles are on the rise globally for their clean and green approach. EVs are on the rise and automobile technology is embracing this shift with open arms. In India, the cost of electric vehicles is very high due to lack of infrastructure. So far India’s goals to push electric vehicles have remained on paper but government is pushing for the increase in EVs. Indian government is very serious about clean vehicles and is making conscious efforts to achieve that goal. 

Here are few steps Modi led NDA government has taken to push green mobility in the country-

Convert 40 percent vehicles to EVs by 2026

Government has ordered cab aggregators like Ola and Uber to convert 40 percent of their fleet into electric vehicles. Modi govt is looking forward towards higher penetration of EVs by 2030. Companies like Ola has previously tried to adapt to EV s but couldn’t due to poor infrastructure in the country. The Ola and Uber need to start converting their fleet from early next year to reach the desired goal of 40 percent by 2026.

Fame 2 scheme

Under the recently launched second phase of faster adoption of hybrid and electric vehicles (FAME) outlay of 1000 crore has been made till 2022. Centre has sanctioned this money for setting up of charging stations and other infrastructure needed for electric vehicles in India. Under this scheme govt will also offer incentives for electric buses, three wheelers and four wheelers to be used for commercial purposes.

Subsidy for EVs

Increase in government subsidy to push sales has been proposed under FAME 2 scheme to achieve the target of at least 30 percent electric vehicles on roads by 2030. Society of manufacturer of electric vehicles (SMEV) is an association representing manufacturers of EVs has proposed subsidies for people buying EVs and incentives to corporate for bulk buying of green vehicles.

Reduced Taxes

According to reports, EV sector has urged the government that tax incentives will play a significant role. It will attract the customers to adopt e mobility as it will decrease the price of electric vehicles. Higher taxes make procurement of EV parts and finished products costlier.

Electric bus service

Last year the Ministry of Urban Development launched Green Urban Transport Scheme to reduce the carbon emissions from public vehicles in the country. Electric bus manufacturers like TATA Motors, JBM , Solaris collaborated with state governments to launch electric buses in the country. These electric buses are already running in the various cities of the country like New Delhi, Lucknow, Manali and more on trial basis and some have also started a full fledged commercial operations

Government is pushing to increase the sales of electric vehicles in the country. Lack of infrastructure, slow speed, and high prices are the factors for slow growth of EVs. Now government is adopting stricter measures like making emission standards stringent to discouraging the production of vehicles that are fitted with internal combustion engines.

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