Around 285,000 Electric Vehicles In India Have Received Subsidies So Far…

According to the Ministry of Heavy Industries and Public Enterprises, around 285,000 electric vehicles have so far been issued a total of $50 million in subsidies.

As per the FAME website, these vehicles have helped offset close to 140,000 tonnes of carbon dioxide emissions saving over 55 million liters of fuel to date.

The government offers subsidies only to commercial vehicles under the FAME scheme. A large number of models across two, three, and four-wheel options are listed as eligible to receive subsidies. The subsidies are available not only to pure EVs but also to hybrid cars.

Electric variants of Tata Motors’ Nano (named Neo) and Tigor and Mahindra Electric’s E2O and eVerito variants are the EVs recognized under the FAME scheme. The Ciaz and Ertiga mild hybrids manufactured by Maruti Suzuki and Toyota’s Camry hybrid are also eligible for subsidies.

Vehicles acquired through the FAME scheme can only be used for commercial purposes.

The FAME subsidy and tax deduction are not the only financial support mechanisms offered by the Indian government. To promote adoption of electric vehicles in public transportation, the government has also announced subsidies to states and city-level authorities to procure electric buses.

The Department of Heavy Industries recently sanctioned subsidies worth $360 million to 64 cities for the procurement of 5,595 electric buses.

Reference- Clean Technica, FAME website, Department of Heavy Industries website