Top Insights for Electric Vehicles

Upcoming initiatives by government are actually making great impacts over market. The demands are surely going to increase with increase in awareness and excitement to use green innovation in the masses. It’s really important for all of us to keep this initiative a buzz till each vehicle doesn’t turns out to be electric one. Let’s check out the top 10 insights for electric vehicles:

  1. The Union Budget has made a bold move in making transition to electric vehicles along with offering a tax incentive for the early special adopters.
  2. Additional income tax deduction of Rs.1.5 lakh has been now offered on interest paid on loans for purchasing electric vehicles.
  3.  GST Council has moved to cut the tax on e-vehicles to 5% from 12%.
  4. NITI Aayog stated that the goal of shifting to electric vehicles can only make progress with deadlines and a market-driven approach by some sections of the automotive industry will leave India’s capabilities and infrastructure for e-mobility trailing others, notably China.
  5. There is a significant outlay under the second iteration of the Faster Adoption and Manufacturing (of Hybrid and) Electric Vehicles (FAME) plan of Rs.10,000 crore, to give a fillip to commercial vehicles and to set up charging stations.
  6. Taking 2030 as target, the imperative is to fix a realistic time-frame by which scooters, motorcycles, three-wheel carriages and, later, all new vehicles will be battery powered.
  7. SIAM (Society of Indian Automobile Manufacturers) reported that India is currently selling close to 750,000 electric vehicles per year, a majority of which are three wheelers, which sold 6,30,000 units, with 1,26,000 of these three-wheelers.
  8. The Indian government has a target to achieve six to seven million sales of hybrid and electric vehicles by 2020 under the National Electric Mobility Mission Plan (NEMMP), the Parliament was informed.
  9. According to media reports, road transport and highways ministry will be tasked with coming up with a framework to phase out the sale of diesel and petrol vehicles by 2030 which is one of the significant sources of air pollution.

We all are hoping for a better future which will make this planet a better place to live. With such happenings around the country, dealers, innovators and other initiators are in extreme need of a marketplace which can cater their needs along with developing awareness and trust for consumers to accept them.

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