Recently, Union minister Prakash Javadekar told Parliament about 285,000 buyers of electric/hybrid vehicles had been supported by a subsidy of Rs 360 crore under FAME.
The
year 2019 was a mix of ups and downs for the electric
vehicle (EV) sales in the country. The coming year is expected to
be better, with the entry of more electric cars and Chinese entities’
entry, bringing down the average cost.
The
second phase of the Rs 10,000-crore scheme of the central government,
termed Faster Adoption and Manufacturing for Hybrid and Electric
vehicles (FAME II), offers higher incentives to higher powered
products. It excludes lead acid battery-powered two-wheelers and
mandates that e-scooters should have 80 km per charge and a minimum
top speed of 40 kmph, with at least 50 per cent localisation in
manufacturing. This has left a large share of two-wheelers out of the
incentive, says CRISIL Research.
Recently,
Union minister Prakash
Javadekar told Parliament about 285,000 buyers of electric/hybrid
vehicles had been supported by a subsidy of Rs 360 crore under FAME.
Sohinder
Gill, director-general, Society of Manufacturers of Electric Vehicles
(SMEV). said, “The year 2019 was full of turmoil for the EV
industry. Sudden policy shock by the government in March 2019 led to
a decline in sales of electric two-wheelers under FAME II. It has
made companies becoming less dependent on government subsidies.”
The
number of electric two-wheelers sold under FAME in the first six
months of this financial year (April to September) saw a 94 per cent
decline to around 3,000 units, from 48,671 units in the same period
last year. The number sold without FAME incentive in the period went
up to around 49,000 units, 2019, from around 10,000 during the same
period last year, said SMEV.
Low-speed
lithium battery vehicles without the FAME incentive cost around Rs
55,000. The high-speed electric two-wheeler costs around Rs 80,000
after the incentive applied, said sources.
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