We Energies proposes new program for electric vehicle charging

OLA Electric

"The proposal to lower GST rates on electric vehicle from 12 per cent to 5 per cent is a positive sign and we hope to see it implemented at the earliest", said Rahul Sharma, Founder, Revolt Intellicorp Pvt. Ltd.

Also to make electric vehicles affordable to consumers, the Union Budget says the government will provide additional income tax deduction of Rs 1.5 lakh on the interest paid on loans taken to purchase electric vehicles.

"We want lot develop India as a manufacturing hub for electric vehicles and want to encourage the purchase of these vehicles".

The government of India believes that the thrust laid down by Niti Aayog over electric vehicles is not unfounded. The Finance Minister also said the government has already approved Rs 10,000 crore for FAME-II scheme on April 1, 2019, to encourage faster adoption of EVs by providing right incentives and charging infrastructure. India will also set up mega manufacturing capacities for semi-conductors and lithium-ion batteries through competitive bidding. It will impact EV sales.

Adopting e-vehicles could also help in reducing emissions.

Currently, only 0.06 per cent of the total cars in India are electric while China has two per cent and Norway has 39 per cent, the Economic Survey said.

The message from the Union government to traditional manufacturers could be more profound as the incentives for electric vehicles was followed by the introduction of special additional excise duty and road and infrastructure cess each by one rupee a litre on petrol and diesel. With the steps unveiled in the budget, India has joined G-20 economies like China, France and the United Kingdom where regulations have been devised to push automakers towards electric and other electrified power trains.

"While these are good initiatives to give a push to adoption of electric mobility, there is still a gap in the price premium for electric vehicles, which can be gradually reduced through technology advancements and localisation in the manufacturing", said Pranavant, partner, Deloitte India, a professional services firm. In addition, their higher-intensity operations with light vehicles or trucks offer more savings-particularly in markets such as Singapore or Thailand where fuel costs are relatively high.

Mr. Mehta further asserted that it has now become imperative that the EV and EV component manufacturers chalk out plans that allow the industry to scale up and meet the demand for compelling products to boost EV sales. You can further help us by making a donation.

Shailesh Chandra, president, electric mobility business and corporate strategy at Tata Motors, said the incentives announced by the finance minister reinforces a strong commitment by the government to steer electrification on a faster trajectory.



Latest news

Rapinoe expects to be 'good to go' for Women's World Cup final
Wiegman, who spent a year in the States during her playing career, does not consider Netherlands' next opponents as cocky, though. They have been strong from the start, announcing their arrival in France with a 13-0 trouncing of Thailand in the opener.

Kangana’s Sister Rangoli Lashes out Deepika Padukone
Judgementall Hai Kya directed by Prakash Kovelamundi post controversy about its release will now hit theaters on July 26, 2019. A source that knows both Taapsee and Kangana, shared that Taapsee has no hard feelings for Kangana, to begin it all.

Lotus' electrical hypercar is named 'Evija'
Previously, the project was known as the "Type 130" - alluding to the 130 cars that will eventually be built. There is also a new teaser video showing off the center console and buttons of the Evija .

Copa America: Lionel Messi sent off as Argentina takes third place
Argentina have competed in 15 prior Copa Americas and have made two other appearances in the third place games. They held on to win a scrappy affair 2-1. "We could have gone further but we weren't allowed into the final".

Coco Gauff saves match points to reach last-16 at Wimbledon
Up in the stands, her mother rose to pump a fist and yell, "Yes!" Thousands of spectators jumped out of their seats, too, roaring. How far can she go, both this fortnight and in the future? "I'm happy that they enjoyed watching me play", she said.

Other news