The government of India is giving a huge discount of Rs. 50,000/- to the customer buying Electric Vehicles in India. This step is taken by the Indian Government to promote the sale of Electric Vehicle in India. The Government of India is also planning to provide Low-Interest Loans to the Electric Vehicle Buyers. With the help of these policies, the Government of India wants to promote the sale of Electric Vehicles in India.
The aim of the Government is to lower the price of Electric Vehicle so that the price of EV can come near to the price of the traditional vehicles available in the market.
The benefits will be given to the Customers depending upon the model of the Electric Vehicle and the size of the battery used in the vehicle. Apart from this, the customers purchasing Electric Vehicles will be given an additional discount on Parking Fees. In many parts of the Country, the registration and road tax for Electric Vehicle is made free. Once, the policy is passed by the Government, and then this policy will be implemented throughout the Country.
Deficit infrastructure and 2 to 2.5 times costlier than the traditional vehicles i.e., vehicle running on petrol or diesel are the main reasons for less popularity of Electric Vehicles in India. The sale of Electric Vehicle was of 56,000 in the year 2018. 25,000 units of Electric Vehicle were sold during the Financial Year 2017. The sale was dominated by electric two-wheelers who’s unit sale was around 54,800 units in 2018, whereas, only 23,000 unit was sold in 2017. However, there is a decline in the sale of Electric Vehicle Four-Wheelers from 2000 units to 1200 units in 2018.