Indian States vie with each other on EV policy and incentives - Gujarat, the latest

Date:
Wed, 23 Jun 2021 04:45:22 +0000

Description:
The new EV policy, unveiled as part of the Gujarat State Electric Vehicle Policy 2021, is a four-year plan with an outlay of Rs 870 crore that will be an incentive for new buyers of electric vehicles, as well as for those investing in the development of infrastructure for EVs.

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The Indian government recently announced the biggest update to the FAME II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) policy , which will further accelerate EV adoption in the country Concomitantly, several Indian States, at least 12 by last count, have notified or have draft EV policies, as India chases its ambitious goal of reaching 30% EV
penetration by 2030.

The latest Indian State to join the EV (Electric Vehicles) policy is Gujarat --- for the record, one out of every three passenger cars manufactured in India come from Gujarat.

The EV policy aims to support electrification of 200,000 vehicles over the next four years (110,000 two-wheelers, 70,000 three-wheelers and 20,000 four-wheelers).

There is also a promise of integration and use of renewable energy to power these clean vehicles. Gujarat's renewable energy capacity at 12,000 MW mark
is among the highest in Indian States.

As per data available, 1.3% of vehicles sold in India in FY 20-21 were EVs Hero and Gogoro form JV for electric vehicles in India India plans fresh incentives to woo electric automakers Incentive for EVs buyers

The new EV policy, unveiled as part of the Gujarat State Electric Vehicle Policy 2021, is a four-year plan with an outlay of Rs 870 crore that will be offered as incentive for new buyers of electric vehicles across segments, as well as for those investing in the infrastructure for EVs. Gujarat says these will lead to a s