Buy an electric vehicle and avail cash incentives offered by Govt of India…
The next time when you are contemplating purchase of a car or bike, do not buy a petrol/diesel version and instead go in for an environment-friendly electric car or scooter or motorcycle. And in the process enjoy low running cost, low maintenance and low repair cost.
Government of India is giving direct cash incentive of Rs 29,000 to buyers of an electric bikes and cash incentive of Rs 1.38 Lacs to buyers of electric cars. In addition, VAT and road tax are likely to be reduced for green vehicles by Central Government in co-ordination with State Governments.
In order to lessen India’s dependence on fossil fuels and improve environment by reducing vehicular pollution, Government of India has launched the ‘National Electric Mobility Mission Plan’ (NEMMP) which seeks to have 7 million electric vehicles on India’s roads by the year 2020. The main part of this Mission Plan is FAME India which is an acronym for ‘Faster Adoption & Manufacturing of Hybrid and Electric Vehicles in India’. The cash incentives are being given under FAME for electric cars, motorcycles, three-wheelers, buses and light commercial vehicles.
Electric cars and motorcycles produced in India…
Companies manufacturing e-cars, e-scooters and e-bikes are listed under ‘Resources’ below. With the cash incentive now being granted by Govt of India, it is expected that demand for these eco-friendly products will rise exponentially in the years to come. Government of India has recently mandated that petrol and diesel vehicles should attain BS VI emission norms from the current BS IV emission norms, by the year 2020 and this may increase prices of these vehicles by 20%. That will reduce the differential in prices between electric vehicles and petrol/diesel vehicles.
Issues like a few hours to charge the battery, replacement of certain parts every few months, slow speed and lack of storage space have hampered growth of electric vehicles in India but with local manufacturers adopting constant upgradation, it is only a matter of time before electric vehicles gain a respectable market share.
Electric vehicles are conventionally powered by lead acid batteries, but now some e-bike models are powered by lithium-ion batteries which do not need any maintenance. However, e-bikes with such batteries would cost higher by about Rs 10,000.