SYNDICATED NEWS
PHOTO CAPTION: electric autoricksaws could qualify for up to Rs 60,000.

Indian Gov't to Invest $2.95 Billion to Promote E-Drive Adoption

The cap on the incentive was Rs 4,000 for low speed two-wheelers, Rs 5,000 for high speed two-wheelers, Rs 60,000 for seven seater three-wheeler and Rs one lakh for a car.

Published: 03-Jul-2012

New Delhi: The government plans to invest around Rs 13,000 crore ($2.95billion) over a period of eight years to promote electric and hybrid vehicles in the country and the Department of Heavy Industries is expected to seek Cabinet approval for the same within the next three months.

According to sources, the Department of Heavy Industries has also decided to include a clause in the draft National Mission for Hybrid and Electric Vehicles (NMHEV) suggesting PSU banks to offer loans to customers for purchasing electric vehicles (EVs).

"The government will put in around Rs 13,000 crore till 2020. This is mainly to incentivise the sector to attract private players," said a senior official from the Department of Heavy Industries.

<< PREVIOUSNEXT >>
RELATED NEWS ITEMS

Hero Motorcorp Leap Hybrid-electric scooter

Scooter uses series hybrid architecture that uses petrol motor to generate electric power to propel it.

Mahindra Reva plans to offer newly designed electric car.

Caveat: two key factors will have to be met, survey finds: pricing and low running costs.

Eco Free Cab uses solar energy to charge batteries.

Three-seat ricksaw has range of up to 150 km on battery charge and top speed of 45 km/h.

READER COMMENTS

blog comments powered by Disqus