Govt. to Boost Electric Car Sales By Investing Rs 1,000 Crore

At the 4th Bus and Special Vehicle Show, Ambuj Sharma, Additional Secretary Ministry of Heavy Industries said that the govt has reserved Rs 1,000 crore for the National Electric Mobility Mission Plan for the next two financial years. The funds will be used to set up charging infrastructure, research and development, incentives and pilot projects.

Mr Sharma also added, "We have a road map till 2020 where we expect around 6-7 million electric and hybrid vehicles in the country. The government has earmarked Rs 1,000 crore for the National Electric Mobility Mission Plan in the next two fiscals (2015-16, 2016-17)."

The National Electric Mobility Mission Plan ( NEMMP) 2020 was introduced by UPA government in 2013 to boost the sales of electric vehicles. According to this, govt has planned to retail 6-7 million units of electric vehicles which will further save 2.2 - 2.5 million tonnes of liquid fuel by 2020.

This two-year scheme would begin on April 1st 2015 which will be further extended as per the need. “After looking at the results of the two years we would further seek support in the next plan," Sharma said.

By introducing this plan, the govt looks to decrease carbon dioxide emissions by 1.3-1.5 per cent in 2020. Previously, it was estimated that govt will need to provide Rs 13,000 crore to Rs 14,000 crore over a period of 5-6 years to support RD and infrastructure for setting up charging points.

Source: PTI