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14,000 Crore Subsidy For Hybrid, Electric Cars
The increase in fuel prices and the shortage of natural oil has demanded that manufacturers look at other options to power vehicles. Currently in most countries the government provides subsidy to manufacturers, who produce electric or hybrid vehicles.
The newly elected Indian government led by Prime Minister Narendra Modi has decided to provide subsidy. In an attempt to boost sales of greener and cleaner vehicles the government will be offering subsidies up to INR 14,000 crore.
Currently the government are in talks with automobile manufacturers. The subsidy provided on electric or hybrid vehicles will be a small portion compared to that of traditional powered vehicles. They could alter these figures and provide more subsidy based on recommendations.
Also Read: Video Of Indian Valet Parkers Crashing Lamborghini Gallardo!
In India Mahindra offers the e2o, which is an electric vehicle. They also provide an hybrid version of its Scorpio SUV. Japanese automobile maker Toyota, has two offerings in the hybrid segment. They offer their globally acclaimed Prius and Camry.
The government is currently proposing a 35% subsidy on pure electric vehicles. While electric vehicles that has a range of 15 km on a charge, will attract 25% subsidy benefits. Hybrid vehicles that provide better efficiency and range will have benefits of 25%, while less economic hybrids will attract a lesser subsidy of 15%.
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These subsidies by the Indian government on electric and hybrid vehicles is good news for environment conscious citizens. It is also a positive step into the future. The government is expecting that more Indians will opt for the greener and cleaner vehicles.
The government of India has alloted subsidies worth INR 14,000 crore and we should make the most of it, since hybrids and electric vehicles will be cheaper. It is believed that roughly INR 60,000 crore worth of fuel will be saved from being used in a matter of six years. The subsidy of INR 14,000 crore has been allotted till the year 2020.
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