Govt. places localisation riders to promote E-Vehicles |
The Indian govt has been firm on its stand for the adoption of the Electric vehicles and in a step towards this goal, the government has placed rigid localisation riders for the automotive industry to avail the incentives under the `Faster Adoption and Manufacturing of hybrid and Electric Vehicles` Initiative, to promote local manufacturing of electric vehicles. In order to qualify for benefits under the scheme, vehicle makers have to ensure minimum localisation content of 40% on ex-factory price of the vehicle in case of buses and 50% for all other categories of vehicles such as electric two wheelers, electric three wheelers, electric four wheelers and rickshaws. “Automobile companies have to meet the specified localisation requirements from April 1, 2019. Overall, direct subsidies to the tune of 1.25 billion dollars will be extended to consumers to promote widespread utilisation of electric two wheelers, three wheelers, four wheelers and buses. Only lithium battery fitted vehicles registered with appropriate authorities will be eligible for incentives. An additional 171 million dollars has been earmarked to set up charging infrastructure and build awareness among consumers about electric vehicles.
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