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EV registration jumps 19% between June and December
Photo Courtesy: Pixabay

EV registration jumps 19% between June and December

| @indiablooms | 19 Dec 2023, 09:46 pm

New Delhi: The Ministry of Heavy Industries on Tuesday said that a total of 819,223 electric vehicles (EVs) have been registered, according to a press release.

In the corresponding period of the previous year, India saw registrations for 684,789 electric vehicles.

Notably, in June, 102,541 EVs were registered, and this number increased to 116,484 in July.

August recorded 127,061 registrations, September had 128,374, and October saw the highest with 139,873.

In November, 153,022 EVs were registered, and by December 15, an additional 51,868 had been registered.

The ministry declared its commitment to boost the adoption of electric vehicles in the nation by announcing the initiation of Phase II of the FAME India Scheme.

This program, slated for five years starting from April 1, 2019, comes with a substantial budgetary support of Rs 10,000 crore.

On September 15, 2021, the Central government sanctioned the production-linked incentive (PLI) scheme for the automotive sector, allocating a budgetary outlay of Rs 25,938 crore.

Under this scheme, incentives of up to 18 percent are provided specifically for electric vehicles in the country.

The press release stated, "The government, on May 12, 2021, approved the PLI scheme for manufacturing of ACC in the country with a budgetary outlay of Rs 18,100 crore. The scheme envisages establishing a competitive ACC battery manufacturing set-up in the country for 50 Gigawatt hours (GWh). Further, 5 GWh of niche ACC technologies is also covered under the scheme."

As per the Ministry of Heavy Industries' press release, it was highlighted that the Central government has implemented a reduction in the goods and services tax (GST) for electric vehicles, as well as chargers and charging stations dedicated to electric vehicles, bringing the rate down to 5 percent.

On battery-operated vehicles, the press release said, "The Ministry of Road Transport and Highways (MoRTH) announced that battery-operated vehicles will be given green licence plates and be exempted from permit requirements." The MoRTH also issued a notification advising states to waive off road tax on EVs, which in turn will help reduce the initial cost of EVs.

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