More than 800k EVs registered between June and December 2023; up 19% YoY

In order to increase the sale of EVs in India, the Centre notified Phase-II of FAME India Scheme for a period of five years, effective April 2019 with a total budgetary support of Rs 10,000 crore

As many as 819,223 electric vehicles (EVs) have been registered between June and December this year, the Ministry of Heavy Industries said in a press release.

The press release stated that during the same period last year, as many as 684,789 electric vehicles were registered across India. In June this year, 102,541 EVs were registered, and in July, the number increased to 116,484. As many as 127,061 EVs were registered in August, 128,374 in September, and 1,39,873 in October. In the month of November, 153,022 EVs were registered, and 51,868 till December 15.

The ministry stated that in order to increase the sale of electric vehicles in the country, the Centre notified Phase-II of FAME India Scheme initially for a period of five years, effective April 1, 2019 with a total budgetary support of Rs 10,000 crore. It further said that the central government, on September 15, 2021, approved the production-linked incentive (PLI) scheme for the automotive sector with a budgetary outlay of Rs 25,938 crore, which provides incentives up to 18 per cent for electric vehicles in the country.

 

The press release stated, "The government, on May 12, 2021, approved the PLI scheme for manufacturing of ACC in the country with a budgetary outlay of Rs 18,100 crore. The scheme envisages establishing a competitive ACC battery manufacturing set-up in the country for 50 Gigawatt hours (GWh). Additionally, 5 GWh of niche ACC technologies is also covered under the scheme."

The Ministry of Heavy Industries, in the press release, stated that the Centre reduced the goods and services tax (GST) on electric vehicles, and chargers and charging stations for electric vehicles to 5 per cent.

On battery-operated vehicles, the press release said, "The Ministry of Road Transport and Highways (MoRTH) announced that battery-operated vehicles will be given green licence plates and be exempted from permit requirements." The MoRTH also issued a notification advising states to waive off road tax on EVs, which in turn will help reduce the initial cost of EVs.