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Government to give incentives to promote Electric Vehicles

Government to give incentives to promote Electric Vehicles

Snapshot: Amitabh Kant told to media that the government would support manufacturing and selling of electric vehicles (EVs) by giving incentives.

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Niti Aayog CEO Amitabh Kant told to media that the government would support manufacturing and selling of electric vehicles (EVs) by giving incentives such as lower road taxes so that the automobile sector continues to play a major role in country's GDP and job creation. Further, he also added that in the long run, India must become a major market for the manufacturer of automobiles, batteries and interoperable charging stations, and help reduce pollution in cities.

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He said at an event organised by industry body Assocham, "We would like to support electric vehicles by providing a vast range of initiatives such as lower road taxes. And the government will act as a catalyst so that automobile sector continues to play a major role in India's GDP and job creation as well as in exports."

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He also pointed out that automobile sector along with component industry is one of the key economic growth driver of India that contributes 7.2 percent to the GDP. By 2027-28, the cost of EV batteries will come down from US $ 273 per kWh to US $ 73 per kWh. Considering the demand from the Indian market, the prices would further come down to US $ 60 per kWh. With the adoption of EVs and shared vehicles could save US $ 60 billion in fuel costs by 2030.


Earlier, the government of India announced to reduce the country’s dependence on fossil fuels and transition and aim for 100 percent electric mobility by 2030.

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