May 18, 2024

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EVs In India To Get Tax Rebate Up to Rs 50,000

EVs In India

Electric Vehicles becoming a trend today, Electric Vehicles (EV) manufacturers are looking forward to manufacturing EVs and buyers are showing a great interest in purchasing EVs as it has some unique features that can save the environment as well as it saves your money. EVs In India.

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EVs In India To Get Tax Rebate

The Indian government is planning to introduce a tax rebate up to 50,000 on the purchase. It comes under the priority sector lending and will also have low-interest rates on loans. As Government is aiming 15% electric vehicles market in India in the next five years.

ET Auto, Official Said About EVs In India

ET Auto, a concerned official said, “The idea is to give enough incentives so that the prices of electric vehicles match the current conventional internal combustion engines so that prospective buyers start giving preferences to electric vehicles over conventional vehicles.”

“This could be clubbed with waiving of road and registration taxes by states and partial or complete exemption from parking charges for electric vehicles, resulting in substantial savings for EV buyers,” he added.

Few cities will be chosen for the implementation of these phases. For EVs to run in the country proper infrastructure must be given to meet the needs of an EV consumer. infratu r ucture such as battery inventors, charging stations, service centers with skilled professionals.

EVs In India Costs Double Price

EVs hold the high price, it charges double then the Internal Combustion (IC) vehicle. Due to it, the EVs are sold less in the country. As an electric car or a two-wheeler cost is doubled when compared to the combustion vehicles. However recently the government has decided to take necessary actions to provide loan facilities to the people willing to buy electric vehicles.

Government Providing Loans To Buy e-Cars, e-Rickshaws, e-Autos

For e-mobility in the country, the three-wheeler manufacturers need not to take a complete shift to electrics, it can be converted from conventional vehicles to electric one said the Automotive Research Association of India (ARAI).

Converting the existing conventional models to an electric one can be easily done and will be helpful for the manufacturers to get all the work done without shifting to completely making into EVs.


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