The Indian Ministry of Heavy Industries has launched a new initiative aimed at accelerating the adoption of electric vehicles (EVs) in the country. The scheme, totaling INR 500 crore, is designed to incentivize the production and purchase of EVs, as well as the development of necessary infrastructure.
Under the scheme, the government plans to offer subsidies to manufacturers to reduce the cost of producing EVs, making them more competitive with traditional internal combustion engine vehicles. Additionally, incentives will be provided to consumers to encourage them to purchase EVs, such as reduced registration fees and tax benefits.
The scheme also includes provisions for the development of charging infrastructure, which is crucial for the widespread adoption of EVs. The government plans to set up charging stations across the country, making it easier for EV owners to recharge their vehicles.
The move comes as part of the government’s efforts to reduce carbon emissions and promote sustainable transportation solutions. India has set ambitious targets for the adoption of EVs, aiming for 30% of all vehicles on the road to be electric by 2030.
The Ministry of Heavy Industries believes that the new scheme will play a significant role in achieving this goal, making EVs more accessible and affordable for the Indian public.
