Goa to offer subsidies on 11,000 EVs for next 5 years
14 Jul 2021
2 Min Read
CW Team
Goa will offer subsidies on 11,000 EVs for the next five years as it recently released a draft scheme to promote electric vehicles in the state. The coastal state has an objective that 30% of its total vehicle registrations to be electric vehicles by 2025.
The state government plans to subsidise 10,000 electric two-wheelers, 500 electric four-wheelers and 500 electric three-wheelers. The subsidy amount will not go beyond Rs 10 crore per year. It has been capped at Rs 1 crore for three-wheelers, and for four-wheelers, the limit is Rs 14 crore. As a whole, the annual subsidy on electric vehicles will not go beyond Rs 25 crore.
A senior official of the state government told the media that the subsidy would be given on a first-come, first-serve basis. The incentive has been capped at Rs 30,000 per vehicle for electric two-wheelers and electric three-wheelers, while the maximum incentive to be offered on an electric four-wheeler will be up to Rs 1.5 lakh per vehicle.
The subsidy will be dispensed in a single instalment which is 100% on the purchase of the vehicle. The owner will have to present the documents of purchase, including the insurance and the RC book.
The scheme of the draft says that if the battery is not sold with the vehicle, the vehicle owner shall be provided with 50% of the Purchase Incentive. The Energy Operators would be supplied with the remaining amount of up to 50% for defraying the cost of any deposit required from the end-users for the use of a swappable battery.
Under the National Electric Mobility Plan (NEMPP), the central government previously had a target to have six to seven million electric and hybrid vehicles on Indian roads by 2020, and it was towards the objective that the Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) scheme was launched by the Department of Heavy Industries, Government of India.
The primary reasons behind the launch of the FAME scheme were for saving 120 million barrels of oil, reducing 4 million tons of CO2 and lowering vehicular emissions by 1.3% by 2020.
Also read: Tata Motors to roll out 10 battery electric vehicles by 2025
Also read: E-mobility: Ashok Leyland to bring EVs to India via subsidiaries
Goa will offer subsidies on 11,000 EVs for the next five years as it recently released a draft scheme to promote electric vehicles in the state. The coastal state has an objective that 30% of its total vehicle registrations to be electric vehicles by 2025.
The state government plans to subsidise 10,000 electric two-wheelers, 500 electric four-wheelers and 500 electric three-wheelers. The subsidy amount will not go beyond Rs 10 crore per year. It has been capped at Rs 1 crore for three-wheelers, and for four-wheelers, the limit is Rs 14 crore. As a whole, the annual subsidy on electric vehicles will not go beyond Rs 25 crore.
A senior official of the state government told the media that the subsidy would be given on a first-come, first-serve basis. The incentive has been capped at Rs 30,000 per vehicle for electric two-wheelers and electric three-wheelers, while the maximum incentive to be offered on an electric four-wheeler will be up to Rs 1.5 lakh per vehicle.
The subsidy will be dispensed in a single instalment which is 100% on the purchase of the vehicle. The owner will have to present the documents of purchase, including the insurance and the RC book.
The scheme of the draft says that if the battery is not sold with the vehicle, the vehicle owner shall be provided with 50% of the Purchase Incentive. The Energy Operators would be supplied with the remaining amount of up to 50% for defraying the cost of any deposit required from the end-users for the use of a swappable battery.
Under the National Electric Mobility Plan (NEMPP), the central government previously had a target to have six to seven million electric and hybrid vehicles on Indian roads by 2020, and it was towards the objective that the Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) scheme was launched by the Department of Heavy Industries, Government of India.
The primary reasons behind the launch of the FAME scheme were for saving 120 million barrels of oil, reducing 4 million tons of CO2 and lowering vehicular emissions by 1.3% by 2020.
Image Source
Also read: Tata Motors to roll out 10 battery electric vehicles by 2025
Also read: E-mobility: Ashok Leyland to bring EVs to India via subsidiaries
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