The government of India with a view to increase the sales of Electric vehicles in the country plans to offer some impressive financial incentives to the companies. Currently, the Indian Electric two wheeler market accounts a sale of around 85,000 per Annam which is to be increased with a 100 percent growth in near future. The companies in India producing these electric vehicles consists of the Avon Cycles, BSA Motors, Hero Electric and Lohia Auto.
Following an incentive of Rs. 95 crore for the remaining 11Th year Plan, the Society of Manufacturers of Electric Vehicles expects 100 percent growth of the industry. The scheme started from 11 of this month envisages an incentive of 20 percent over ex-showroom prices of the vehicles. As per the information, an incentive of Rs. 4000 is kept for the low speed electric two wheelers and Rs. 5000 for high speed vehicles. Also the government plans to provide an incentive of Rs. 60,000 for seven seater three wheelers of the country and an amount of Rs 1lakh for the electric cars.
The above mentioned scheme for the dealers of Electric vehicles in India is sure to encourage their sales tremendously. The companies experiencing losses are definitely to work hard for increasing the sales of Electric vehicles and the Government also is to plan some incentives for the buyers as well so as to attract them towards the market.
Press Release :
Society of Manufacturers of Electric Vehicles Director Sohinder Gill said, "This could have an immediate impact on sales of electric two-wheelers. In terms of monthly sales, we expect an immediate doubling of sales."
"We have convened a meeting of our members in this week to see how quickly we can pass on the benefits to consumers. Although these incentives are for the manufacturers to carry out R&D activities and to increase capacities, we will surely pass on partial benefits to the buyers," he added.