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More than 800,000 EVs Registered between June and December 2023

Asia Manufacturing Review Team | Tuesday, 19 December 2023

 Asia Manufacturing Review Team

According to a press release from the Ministry of Heavy Industries, 819,223 electric vehicles (EVs) were registered between June and December of this year. 684,789 electric vehicles were registered in India during the same period previous year, as per the press release. In June of this year, 102,541 EVs were registered, with the figure increasing to 116,484 in July.  In August, 127,061 EVs were registered, followed by 128,374 in September and 1,39,873 in October. 153,022 EVs were registered in November, and 51,868 were registered through December 15.

According to the ministry, in order to enhance the sale of electric vehicles in the country, the Centre notified Phase-II of the FAME India Scheme for a five-year period beginning April 1, 2019, with a total budgetary support of Rs 10,000 crore. It went on to say that the central government approved the production-linked incentive (PLI) scheme for the automotive sector on September 15, 2021, with a budgetary allocation of Rs 25,938 crore, which gives incentives of up to 18% for electric vehicles in the country.

According to the press release, "the government approved the PLI scheme for ACC manufacturing in the country on May 12, 2021, with a budgetary outlay of Rs 18,100 crore." The plan is to build a competitive ACC battery manufacturing facility in the country for 50 Gigawatt hours (GWh). Additionally, the scheme covers 5 GWh of specialist ACC technologies."

According to a press release from the Ministry of Heavy Industries, the Centre has decreased the goods and services tax (GST) on electric vehicles, chargers, and charging stations for electric vehicles to 5%.

The news release stated that "the Ministry of Road Transport and Highways (MoRTH) announced that battery-operated vehicles will be given green license plates and will be exempt from permit requirements." The MoRTH also issued a notification instructing governments to eliminate off-road tax on EVs, lowering the initial cost of EVs.