India Considers $1.6 Billion Electric Vehicle Incentive Program

NOV 23 2013 BY ERIC LOVEDAY 1

Mahindra Reva Electric e20 is Only Mass-Produced 4-Wheel Electric Currently Sold in India

Mahindra Reva Electric e20 is Only Mass-Produced 4-Wheel Electric Currently Sold in India

Is India ready to enter the electric vehicle segment in a big way?

Mahindra Reva's First Electric Vehicle...the e20

Mahindra Reva’s First Electric Vehicle…the e20

That does seem to be the case, as the nation’s government is currently considering a proposal that, if passed, could finance the development of electric vehicles throughout the county.

The proposal calls for up to $1.6 billion to be set aside over an eight-year period.

The monies will be used for several aspects of electric vehicle development, including for purchase incentives

Actaully, the main focus of the proposal in on providing consumers with incentive, though the exact details are unknown to us at this time.

If passed, the Mahindra Reva with its e20 electric will certainly benefit.  The e20 is currently India’s only mass-produced electric vehicle.

E20 sales right now are less than 30 units per month.  The reason being cited for low sales is the high price tag attached to the e20.  If this incentive were to pass, the e20 could actually become cheaper to purchase than conventionally fueled vehicles in India.

India is expected to take action on this proposal within the next month or two.

Source: Money Control

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1 Comment on "India Considers $1.6 Billion Electric Vehicle Incentive Program"

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For the last 2 years i am waiting for this. Indian government is currently in policy paralyzed state and i can’t see this desicion to come till next national elections (due in May 2014). We are importing 80% of OIL amounting to 144 Billion USD last year and still we are not aiming at electric cars. We should take inspiration from Bhutan which is going to replace all government vehicles by Leaf and Tesla S.