The government of India has introduced a new scheme to promote electric vehicles in the country. The scheme, implemented by the Ministry of Heavy Industries, came into effect on April 1. It replaces the previous Faster Adoption and Manufacturing of Electric Vehicles in India (FAME) scheme, which ended on March 31. The government had announced that subsidies under the new scheme would be applicable for e-vehicles sold until March 31.
Auto industry experts at a panel discussion on sustainable mobility at the Global Investors Meet on Sunday emphasized the need for continued government support for India’s sustainable transition. While the adoption of electric vehicles (EVs) is low in India compared to the global average, industry leaders believe that with the right incentives and policies, the country can catch up and localize EV production. EV entrepreneurs also called for a shift in policy to benefit smaller players in the industry.
The Indian government has announced plans to finance 10,000 electric buses across cities, which is expected to boost the country’s electric vehicle (EV) industry. However, a sustainable financial model is needed to make e-buses mainstream. Currently, e-buses make up just 0.27% of the 1.8 million buses in India. The government’s scheme, called the PM E-bus Seva Scheme, will roll out 10,000 electric buses in urban areas with no city bus services.
