Goa to offer subsidies on 11,000 EVs for next 5 years
POWER & RENEWABLE ENERGY

Goa to offer subsidies on 11,000 EVs for next 5 years

Goa will offer subsidies on 11,000 EVs for the next five years as it recently released a draft scheme to promote electric vehicles in the state. The coastal state has an objective that 30% of its total vehicle registrations to be electric vehicles by 2025.

The state government plans to subsidise 10,000 electric two-wheelers, 500 electric four-wheelers and 500 electric three-wheelers. The subsidy amount will not go beyond Rs 10 crore per year. It has been capped at Rs 1 crore for three-wheelers, and for four-wheelers, the limit is Rs 14 crore. As a whole, the annual subsidy on electric vehicles will not go beyond Rs 25 crore.

A senior official of the state government told the media that the subsidy would be given on a first-come, first-serve basis. The incentive has been capped at Rs 30,000 per vehicle for electric two-wheelers and electric three-wheelers, while the maximum incentive to be offered on an electric four-wheeler will be up to Rs 1.5 lakh per vehicle.

The subsidy will be dispensed in a single instalment which is 100% on the purchase of the vehicle. The owner will have to present the documents of purchase, including the insurance and the RC book.

The scheme of the draft says that if the battery is not sold with the vehicle, the vehicle owner shall be provided with 50% of the Purchase Incentive. The Energy Operators would be supplied with the remaining amount of up to 50% for defraying the cost of any deposit required from the end-users for the use of a swappable battery.

Under the National Electric Mobility Plan (NEMPP), the central government previously had a target to have six to seven million electric and hybrid vehicles on Indian roads by 2020, and it was towards the objective that the Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) scheme was launched by the Department of Heavy Industries, Government of India.

The primary reasons behind the launch of the FAME scheme were for saving 120 million barrels of oil, reducing 4 million tons of CO2 and lowering vehicular emissions by 1.3% by 2020.

Image Source


Also read: Tata Motors to roll out 10 battery electric vehicles by 2025

Also read: E-mobility: Ashok Leyland to bring EVs to India via subsidiaries

Goa will offer subsidies on 11,000 EVs for the next five years as it recently released a draft scheme to promote electric vehicles in the state. The coastal state has an objective that 30% of its total vehicle registrations to be electric vehicles by 2025. The state government plans to subsidise 10,000 electric two-wheelers, 500 electric four-wheelers and 500 electric three-wheelers. The subsidy amount will not go beyond Rs 10 crore per year. It has been capped at Rs 1 crore for three-wheelers, and for four-wheelers, the limit is Rs 14 crore. As a whole, the annual subsidy on electric vehicles will not go beyond Rs 25 crore. A senior official of the state government told the media that the subsidy would be given on a first-come, first-serve basis. The incentive has been capped at Rs 30,000 per vehicle for electric two-wheelers and electric three-wheelers, while the maximum incentive to be offered on an electric four-wheeler will be up to Rs 1.5 lakh per vehicle. The subsidy will be dispensed in a single instalment which is 100% on the purchase of the vehicle. The owner will have to present the documents of purchase, including the insurance and the RC book. The scheme of the draft says that if the battery is not sold with the vehicle, the vehicle owner shall be provided with 50% of the Purchase Incentive. The Energy Operators would be supplied with the remaining amount of up to 50% for defraying the cost of any deposit required from the end-users for the use of a swappable battery. Under the National Electric Mobility Plan (NEMPP), the central government previously had a target to have six to seven million electric and hybrid vehicles on Indian roads by 2020, and it was towards the objective that the Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) scheme was launched by the Department of Heavy Industries, Government of India. The primary reasons behind the launch of the FAME scheme were for saving 120 million barrels of oil, reducing 4 million tons of CO2 and lowering vehicular emissions by 1.3% by 2020. Image Source Also read: Tata Motors to roll out 10 battery electric vehicles by 2025 Also read: E-mobility: Ashok Leyland to bring EVs to India via subsidiaries

Next Story
Infrastructure Energy

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Next Story
Infrastructure Urban

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Next Story
Infrastructure Energy

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?