India Pushes New Energy Vehicle Subsidy Policy: 3 Years To Make Up About 1.4 Billion US Dollars

- Nov 13, 2019-

According to foreign media reports, in order to encourage sales of new energy vehicles, India has approved a three-year 100 billion rupee (about 1.4 billion US dollars) electric vehicle and hybrid vehicle subsidy program.

According to media reports, the plan will allow all types of new energy vehicles in India to qualify for the award, with a subsidy price limit of INR 1.5 million ($2,1600), provided they are equipped with modern lithium-ion batteries. Of course, the amount of subsidy depends on the battery capacity.

According to Reuters, the battery capacity per kWh will reach 10,000 rupees ($144), which is considered to be half the cost of the battery (at the battery level).

If you have a small electric car with a 20 kWh battery, you can get 200,000 rupees ($2,880) cheaper.

In 2017, the Indian government set a target for all new cars to use electricity by 2030, but critics say the high cost of batteries and the lack of charging stations are major obstacles. Automakers also say that this goal is too ambitious and idealistic. The Indian Ministry of Transportation subsequently adjusted this target - in five years, India's electric cars sold accounted for about 15% of all car sales.