New Delhi
Electric
two-wheelers can help save Rs 25,000 every year compared to those run on
internal combustion engines, says a DownToEarth report. Consumers show willingness
due to the easy charging options and smaller battery packs.
Department of Heavy
Industry recently revised the incentives provided to electric 2-wheelers under
the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in
India (FAME) scheme. Two-wheelers were given a Rs 15,000 incentive per kWh,
capped at 40% of the vehicle cost as compared to the previous Rs 10,000 per
kWh, at 20%.
The decision
came when the country was slowly unlocking from COVID-19 and commuters show a
preference for personal vehicles than public transport to reduce further
infection spread.
Shubham Srivastava
of DownToEarth feels “Apart from personal use, electrification of small-format
mobility, especially two-wheelers, can be leveraged due to increase in various
emerging-use cases after the pandemic such as ride-hailing, last-mile delivery
services and rentals. A commuter’s preference towards electric mobility can
play an important role in achieving India’s target of achieving 30 per cent
electrification by 2030 (30@30 target).”
Electric
two-wheelers can help save Rs 25,000 every year compared to those run on
internal combustion engines. Consumers show willingness due to the easy
charging options and smaller battery packs.
According to
Vahan, a road transport ministry database, the electric two-wheeler segment saw
a 65% increase in electric two-wheeler registrations between 2020 and 2021.
Shubham
Srivastava of DownToEarth added, “After the revision in the incentive structure
under FAME, an eligible two-wheeler can enjoy an average cost reduction of 35%,
which is a major improvement for the segment.”
FAME
incentivises two-wheelers, three-wheelers, four-wheelers (commercial only) and
buses. FAME II has seen sales of over 76,000 vehicles in
the last two years, amounting to more than Rs 2.21 billion total incentive,
according to the official website.
In India, 16
states have drafted a public EV policy aligned with the electrification target
of the nation. To achieve the objectives stated in these policies, many states
are also offering fiscal incentives to the buyer in addition to the FAME
incentives.
Source – DownToEarth
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