New Delhi, India To Offer Up To 50% Subsidy To Domestic Manufacturers Of Electric Vehicles
Mahindra Reva e2o Build In India
“Delhi is reportedly in the process of implementing the National Electric Mobility Mission Plan 2020, under which the electric car manufacturers would be entitled to benefits to the tune of about `13,600 crores. The city administration is also contemplating a substantial subsidy to convert its existing fossil fuel-powered cars into electric vehicles. The city’s civic bodies are giving final touches to the new e-policy for the battery-operated rickshaws, which have mushroomed all over the national capital.”
For the capital of India, the support of electric vehicles is mostly in an effort to meet India’s goal of having up to 7 million electric vehicles on its roads by 2020.
“The city administration is yet to take a final call on the amount of subsidy, but there are indications that the electric vehicles may enjoy a subsidy of about 35 per cent while the electric vehicle conversion kits could be subsidised by 50 per cent. It is learnt that the ministry of heavy industry has already moved a proposal to the Union finance ministry, recommending 35 per cent subsidy to electric vehicles and 25 per cent to the plug-in hybrid cars that can operate on pure electric mode for at least 15 km.”
So, basically, the manufacturer will get a huge break, which it should hopefully pass onto buyers.