look news india
Ahmedabad: The government's electric mobility promotion scheme has gained momentum. By August 15, 60 percent of the revised target of the scheme has been achieved. Under this scheme, a target was given to provide assistance to 5,60,000 vehicles, out of which assistance has been provided to 3,34,260 vehicles. This is significant progress after a slow start.
The project began on April 1 and by July 15, less than 10 per cent of the target had been achieved. Government sources attributed this to new entrants and existing companies introducing new models, which led to a surge in distribution.
Today, there are 31 OEMs registered under the scheme, offering 168 models. The ongoing process was initially slow but robust, as we applied strict eligibility criteria. The change made last month was significant as 60 per cent of the revised target has been achieved. The Ministry of Heavy Industries has extended the incentive scheme by two months till the end of September, which was earlier scheduled to end on July 31.
The target under the scheme has been increased from 3,72,215 units to 5,60,000 units for which the total financial allocation has been increased from Rs. 500 crore to Rs. 778 crore. Out of the allocated amount of Rs. 778 crore, 27 per cent of the claim amount (Rs. 214 crore) has been paid. Compared to the previous allocation, the utilization of the amount is more than 42 per cent.
According to vehicle data from the Ministry of Road Transport and Highways, electric vehicle sales in July grew by about 28 per cent over the previous month and were the highest in any single month in the current financial year. If we look at the data for the calendar year 2024, electric vehicle sales have crossed the 1 million mark in the first 7 months.
