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 Subsidy On Electric Vehicle In India

Subsidy On Electric Vehicle In India

Electric vehicles (EVs) are becoming an increasingly popular choice for many people in India, and the government has implemented several policies and incentives to encourage the adoption of EVs. One of these incentives is the subsidy on electric vehicles, which is designed to make EVs more affordable for consumers. In this blog, we’ll take a look at the subsidy on electric vehicles in India and how it works.

What is the subsidy on electric vehicles in India?

The subsidy on electric vehicles in India is a financial incentive provided by the government to encourage the adoption of EVs. It is intended to help offset the higher upfront cost of EVs, which can be more expensive than traditional gasoline-powered vehicles.

Who is eligible for the subsidy on electric vehicles in India?

The subsidy on electric vehicles in India is available to individuals and businesses who purchase new EVs. To be eligible, the EV must be registered in India and must be used for personal or business use.

How much is the subsidy on electric vehicles in India?

The amount of the subsidy on electric vehicles in India varies depending on the type of EV being purchased. The subsidy is generally highest for small EVs, such as two-wheelers and three-wheelers, and decreases as the size of the vehicle increases. The current subsidy rates for EVs in India are:

Two-wheelers: Rs 15000/- per kWh upto 40% of the cost of Vehicles 

Three-wheelers: Rs 10000/- per kWh

Four-wheelers: Rs 10000/- per kWh

E Buses: Rs 20000/- per kWh

E Trucks: Rs 20000/- per kWh

Ref – https://e-amrit.niti.gov.in/electric-vehicle-incentives

How is the subsidy on electric vehicles in India applied?

To receive the subsidy on electric vehicles in India, buyers must apply for the subsidy through the designated agency in their state. The subsidy is generally provided as a discount at the time of purchase and is applied directly to the price of the EV.

Is the subsidy on electric vehicles in India available for all electric vehicles?

The subsidy on electric vehicles in India is not available for all EVs. It is only available for EVs that meet certain technical and performance criteria, such as having a range of at least 80 kilometres on a single charge.

Overall, the subsidy on electric vehicles in India is a valuable incentive for anyone considering the purchase of an EV. It helps to make EVs more affordable and helps to reduce the upfront cost of ownership, making EVs a more viable transportation option for more people.

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