E-mobility: The Buzzword
The first concrete decision to spur electric vehicles was taken in 2010. A 95-crore scheme was approved by the Ministry of New and Renewable Energy (MNRE), the government announced a financial incentive for manufacturers for electric vehicles sold in India.
In 2017, Transport Minister Nitin Gadkari shocked the automobile industry when he announced that he intended for India to move to 100% electric cars by 2030.
In the financial year that ended in March 2020, about 3.4 million passenger cars were sold in the country against 21.2 million two-wheelers, according to data released by Indian automobile manufacturers. The number of three-wheelers sold totaled 0.7 million.
The government seems to have two dominant objectives - to control pollution and take the lead in an emerging industry.
The Economic Survey, a government forecast, released a day before the budget envisaged an Indian city possibly emerging as the "Detroit of electric vehicles" in the future.
The domestic automobile Industry also is slowly, but surely, moving towards electric mobility. Almost all major players like Tata, Mahindra, Hero, Ola Electric are in the advanced stages of manufacturing electric vehicles and some have even launched them in the market.
The EV adoption, however, is overdue because of many reasons, the primary being non-availability of charging infrastructure.
The Government, on its part, is taking a series of steps to smoothen the way towards EV adoption. The Union Budget 2020 introduced plenty of initiatives for the EV industry.
From offering incentives in the form of tax rebates on loans for buying EV to reducing the GST by 5 percent. Under the Green Initiative and ‘Make in India’ scheme, Phase-II of the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME-II) has also been launched.
Automobile brands are now coming up with new advanced models of EVs. The customer now has a wide array of options to choose from. This is a great time to buy an EV as automobile brands are offering various offers and discounts on them.
So now or never, switch to electric and #staychargedup!