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Indian government launches major EV incentive program

India Flag -Sean Ellis (CC BY 2.0)

India’s government has announced a goal of putting 6-7 million electric and hybrid vehicles on the road by 2020, and proposes to invest an estimated 14,000 crore ($2.2 billion) over a period of 5 years in subsidies and other incentives.

The Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) program will offer buyer subsidies of up to 22,000 Rupees ($352) for an electric scooter, 61,000 ($977) for a 3-wheeled rikshaw, 138,000 ($2,209) for a passenger car, and 6,600,000 ($106,000) for a bus. Subsidies are also available for retrofit projects.

Manufacturers will receive the subsidies from the Department of Heavy Industry and distribute them to customers. The scheme is limited to vehicles made or assembled in India.

More: Nissan LEAF headed for India, government rolls out subsidies
 

Source: iamWire
Image: Sean Ellis (CC BY 2.0)

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