Government to make Rs 14,000 crore subsidy scheme for hybrid, electric cars

Government to make Rs 14,000 crore subsidy scheme for hybrid, electric cars

Buying a hybrid or an electric car may soon fetch you a subsidy from the government, which is readying a
Rs 14,000-crore scheme to push green vehicles.

The subsidy will be a proportion of the difference between the price of a car running on fossil fuel and that of a green vehicle, said sources involved with the discussions.

The heavy industry ministry, which has moved a proposal for clearance by the finance ministry, has suggested that the maximum subsidy of 35 per cent should be given to pure electric vehicles, while a 25 per cent benefit should be provided for plug-in vehicles that can drive for at least 15km at one go.

Similarly, the purchase of mild hybrids will fetch you a 15 per cent subsidy, while a stronger version will get a 25 per cent benefit.

Source: The Economic Times

SMART GRID Bulletin July 2017


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