GAP BETWEEN EV AND ICE VEHICLE
GAP BETWEEN EV AND ICE VEHICLE
In addition to subsidy schemes like Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME-India) Scheme, Electric Mobility Promotion Scheme 2024 (EMPS),Production Linked Incentive Scheme for Automobile and Auto Component Industry (PLI-AAT),Production Linked Incentive Scheme for manufacturing of Advanced Chemistry Cell (PLI-ACC),the Central Government on 15.03.2024 notifiedScheme to Promote Manufacturing of Electric Passenger Cars in India to attract investments from global EV manufacturers and promote India as a manufacturing destination for e-vehicles. The approved applicant companies will be able to import upto 8000 CBUs (annually) of e-4W manufactured by them with minimum CIF value USD 35,000 at reduced customs duty of 15% provided they set up e-4W manufacturing facilities with a minimum investment of ₹4,150 Crore.
Further, following initiatives have also been taken up by the Government of India to increase the use of electric vehicles in the country: –
GST on electric vehicles and chargers/ charging stations for electric vehicles has been reduced to 5%.
Ministry of Road Transport & Highways (MoRTH) announced that battery-operated vehicles will be given green license plates and be exempted from permit requirements.
MoRTH issued a notification advising states to waive road tax on EVs, which in turn will help reduce the initial cost of EVs.
This information was given by the Minister of State for Heavy Industries and Steel, Shri Bhupathi Raju Srinivasa Varma in a written reply in the Lok Sabha today.
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GST on electric vehicles and chargers/ charging stations for electric vehicles has been reduced to 5%.
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Ministry of Road Transport & Highways (MoRTH) announced that battery-operated vehicles will be given green license plates and be exempted from permit requirements.
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MoRTH issued a notification advising states to waive road tax on EVs, which in turn will help reduce the initial cost of EVs.