Four EV companies deposit Incentives of INR 129 cr |Dorleco

Four EV companies deposit Incentives of INR 129 cr with the center against pending funds

The higher upfront cost of an electric vehicle may give you the impression that it is more expensive to acquire than a car with an internal combustion engine. Electric vehicles still have a lower effective lifetime cost. The government provides a variety of financial incentives to help you finance electric vehicles. The most important methods for receiving incentives are:

Buy-Incentive Measures: The consumer receives a direct discount on the price of the electric vehicle

Coupons: Financial inducement with a future reimbursement

Interest Inducements: A discount on the interest rate is provided while obtaining a loan.

Road tax exemption: A waiver of the road tax road tax is not charged at the time of purchase.

There is no registration cost required: A one-time registration cost that applies to the purchase of a new car is waived.

Income tax benefit: A reduction in the amount of taxes that a person must pay to the government. Scrapping incentives: On de-registering outdated gasoline and diesel vehicles, provided

Others: You can also take advantage of incentives like interest-free loans, top-up subsidies, special incentives on electric three-wheelers, etc.

National Incentives:

The present India’s main program for boosting electric transportation is called FAME, or Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles. FAME-II is currently in its second phase of implementation and will be in place for 3 years starting on April 1st, 2019, with a budget of 10,000 Cr. The scheme’s rewards include the following:

Total Approximate Incentives Approximate Size of Battery

Two wheelers:

Rs 15000/- per kWh up to 40% of the cost of Vehicles

Two wheelers:

2 kWh

Three wheelers:

Rs 10000/- per kWh

Three wheelers:

5 kWh

Four wheelers:

Rs 10000/- per kWh

Four wheelers:

15 kWh

E Buses:

Rs 20000/- per kWh

E Buses:

250 kWh

Ather (Rs 650 crore), Ola Electric (Rs 7,614 crore), Ampere (Rs 700 crore), Simple Energy (Rs 2,500 crore), Hyundai Motor India (Rs 20,000 crore), Renault-Nissan (Rs 5,300 crore), and TVS Motor (Rs 1,200 crore) are a few of the large investments in the sector that have recently been announced in Tamil Nadu.

 

 

 

 

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