Indian government It is planning to launch a new electric vehicle policy (EV policy) in 2024. This policy is designed to promote the development and adoption of electric vehicles in India.
The new EV policy has the potential to:
Increasing subsidy on electric vehicles: Currently, the Government of India provides a subsidy of up to Rs 20,000 on electric two-wheelers and up to Rs 1.5 lakh on four-wheelers. There is a possibility of increasing these subsidies in the new policy.
Expansion of charging infrastructure for electric vehicles: The government is committed to expanding the network of charging stations for electric vehicles across the country. The new policy is likely to include specific measures to achieve this goal.
Tightening of norms for electric vehicles: The government is planning to tighten the norms to increase the efficiency and safety of electric vehicles. These criteria are likely to be included in the new policy.
The new EV policy could have the following potential impacts:
Reduction in prices of electric vehicles: Increasing subsidies and expanding charging infrastructure can reduce the prices of electric vehicles. This will make electric vehicles more affordable and accessible.
Increase in demand for electric vehicles: Reduction in the prices of electric vehicles may increase the demand for electric vehicles. This will expand the market of electric vehicles in India.
Positive impact on environment: Increasing use of electric vehicles will reduce air pollution. This will have a positive impact on India’s environment.
The new electric vehicle policy to be launched by the Government of India in 2024 can play an important role in promoting the development and adoption of electric vehicles in India. Effective implementation of the policy can significantly increase the demand for electric vehicles in India and reduce air pollution.