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Kinetic Green: Speaking at Vibrant Gujarat Global Summit in Gandhinagar, she said the FICCI committee had submitted a comprehensive recommendation, including continuation of the FAME scheme, to the government for acceleration of electric mobility.
Budget For EVs: The demand for electric vehicles (EVs) in India has surged by over 100% since 2017. In January-November 2023, EV sales skyrocketed to 89,137 units, doubling from 44,489 units in the corresponding period of 2022. Tata Motors, the EV leader, anticipates a slight moderation in 2024 due to a high base. However, they forecast annual electric car sales to reach 1 million units by 2028, supported by new launches and expanded charging infrastructure. Tata Motors aims for EVs to constitute 25% of its sales by 2027 and 50% by the decade's end.
Delhi government extends electric vehicles (EV) policy until March 2024, awaiting cabinet approval. Two-wheelers eligible for Rs 5,000 subsidy per kWh of battery capacity. Three-wheelers eligible for Rs 30,000 subsidy, regardless of cost or battery capacity. Four-wheelers eligible for Rs 10,000 subsidy per kWh of battery capacity, limited to first 1,000 EVs. New EV policy, Delhi EV policy 2.0, almost finalized with increased incentivization and parking incentives.
Fame Ii: The scrapping of the Faster Adoption and Manufacturing of Electric Vehicles in India-II (FAME-II) scheme in March 2024 may result in a reduction of sales in the short term, but will not impact in the long term, said Anirudh Ravi Narayanan, CEO of BNC Motors Pvt Ltd. The company makes electric motorbikes and scooters.
EV Policy: The government is actively engaging with both domestic and international stakeholders to formulate a policy aimed at boosting the local production of electric vehicles (EVs). Discussions are underway to involve potential investors from countries like Germany, the UK, and South Korea.