18/03/2019
India will provide $1.4 billion in subsidies to support the country's electric vehicle industry! ! ! To encourage the development of the country's electric vehicle industry, the Indian government has developed a two-pronged strategy for both consumers and manufacturers: it will provide $1.4 billion ($1, about 6.72 yuan) in subsidies and increase import tariffs next year. To stimulate domestic companies to produce electric vehicles.
The report said that the new policy was approved by the cabinet at the end of February and will take effect in the new fiscal year beginning in April, but the details have not yet been announced. The plan promises to provide $1.4 billion in subsidies to electric buses, tricycles and four-wheelers registered as commercial vehicles, as well as private motorcycles and scooters within three years.
According to the report, in other countries, the focus of electric vehicle incentives is on private vehicles, just like the electric cars produced by Tesla in the United States; while India sells less than 4 million cars a year, so the country focuses on public transportation. On the system. The main targets of this subsidy policy are buses, tricycles and two-wheelers – a very popular and affordable means of transportation.
New Delhi citizens travel by electric tricycle
According to reports, although electric vehicles are still a negligible component of India's current transportation system, many Indian companies, including Ma Hengda Motor Co., Tata Motors, have begun to produce lithium-powered electric vehicles and electric tricycles. And electric buses (and electric two-wheelers).
According to the report, this latest policy aims to promote the development of the electric vehicle industry.
According to the report, of the $1.4 billion, about $1.2 billion is dedicated to subsidies and $140 million is for infrastructure improvements.
According to the report, there are as many as 1 million electric two-wheelers, 500,000 electric tricycles, 35,000 electric vehicles, 20,000 hybrid vehicles (gasoline, electric power or both) and 7090 electric vehicles. Buses can be subsidized. To ensure that subsidies are not used for high-end models like Tesla, the policy sets a price ceiling for each type of vehicle. For example, a car with a price of more than $21,000 is not eligible for subsidies.
According to the report, plug-in hybrids and strong hybrid four-wheelers are also subsidized. The maximum subsidy for buses is 40%, and the subsidy limit for all other vehicles is 20%.
According to the report, because the cost of batteries is the reason why most consumers are discouraged from electric vehicles, this policy also provides subsidies based on battery capacity - for all other vehicles, excluding buses, $140 per kWh. The bus will receive twice the subsidy for this amount.
According to the report, the state governments are also expected to provide financial and non-financial incentives to further encourage the adoption of electric vehicles. Non-financial incentives include reductions in road taxes, tolls, parking fees, registration fees, and other fees.
According to the report, the government has also developed a phased manufacturing roadmap as part of its efforts to promote domestic manufacturing. According to a statement from the Indian government, "The purpose of this move is to substantially increase domestic value-added and capacity building."
For example, according to the plan, tariffs on imported buses and trucks will be doubled to 50% from April 2020, while tariffs on imported semi-assembled passenger cars and tricycle components will double to 30%. Similarly, lithium batteries will be subject to a 15% tariff.
