Electric Mobility
Government of India targets 30% electric vehicles by 2030
The Automobile sector contributes 49% to India’s manufacturing GDP and 7.1% to India’s GDP. The 2nd AMP (Automotive Mission Plan) released by the government outlines the plan to elevate the Automotive Industry to world class levels. As part of Paris agreement in 2015, India committed to reduce the emission intensity of its gross domestic product (GHG emissions per unit GDP) by 33% - 35% over 2005 levels by 2030. In order to meet its global commitment and mitigate adverse impact of the automobiles (ballooning oil import expenses and increasing air pollution), the Government is keen to shift the narrative towards electric vehicles. The electic vehicle market in India is expected to be valued at $2bn by 2023.
With battery costs declining faster than anticipated, EV economics become favorable as battery costs decline; the five year TCO becomes favorable over any alternative in most markets. Additionally, consumers benefit from financial (e.g., subsidies) & non-financial incentives (e.g., road access, registration privileges).
Contribution to manufacturing sector
FDI Allowed
Contribution to GDP
Team Blogs
As India revives from the shackles of Covid-19 pandemic and…
Conclusively now, electric vehicles are the future!…
Being a major non-debt financial source, Foreign Direct…
FAQs
The fact is that a typical conventional hatchback has 130-140 gm/km of CO2 emission comparing to an electric vehicle for 100 gm/km when charged by grid and when solar charged, there is ~0 gm/km CO2 emission from an electric vehicle.
Please visit the link for more information.
Was it helpful?
The FAME scheme introduced in April 2012 is to be implemented over a period of 6 years till 2020 to support hybrid/electric vehicles market development and its manufacturing. Under this scheme, demand incentives will be availed by buyers (end users/consumers) upfront at the point of purchase and the same shall be reimbursed by the manufacturers from Department of Heavy Industries, on a monthly basis.
Was it helpful?
The following categories are not covered under the FAME scheme:
a) E-Rikshaw
b) Electric Bicycles.
c) Vehicles used for carrying person/goods used within closed premises like factory, airport etc.
d) Electric Chair-cars.
All those vehicles, which are not directly reducing fossil fuel, are not covered under FAME India Scheme.
For more information, please visit the following link.
Was it helpful?
The FAME incentive will be available over and above any State level EV incentives being offered by any State/Local bodies.
However for JNNRUM (AMRIT) funded buses, there is a specific incentive amount declared in the Scheme Guidelines.
Please visit the link for more information.
Was it helpful?