In a major boost to the Indian electric vehicles industry, the ministry of new and renewable energy ( MNRE) on Monday announced a 20 per cent financial incentive on the ex-factory price of electric cars and scooters sold in the country.
According to the new scheme, manufacturers of electric vehicles will receive financial incentives of up to 20 per cent on the ex- factory price for each electric vehicle sold in India. However, the scheme also sets a maximum limit on the amount of the incentive at Rs 4,000 for lowspeed electric two wheelers, Rs 5,000 for high- speed electric two wheelers and Rs 1 lakh for an electric car.
The Reva electric car manufactured in Bangalore by Mahindra Reva Electric Company, which is priced in the range of Rs 3.31 to Rs 4.28 lakh across models, will now become cheaper by Rs 66,000 to Rs 85,000.
– from indiatoday.intoday.in