Govt earmarks Rs1,000 crore to boost electric vehicle sales1 min read . Updated: 15 Jan 2015, 07:02 PM IST
The amount will be utilized to set up charging infrastructure, technology development, incentives and pilot projects, says an official
Greater Noida: In a move to boost electric vehicles sales in the country, the government has earmarked ₹ 1,000 crore for the National Electric Mobility Mission Plan for the next two fiscal years, a top government official said on Thursday.
The amount would be utilized to set up charging infrastructure, technology development, incentives and pilot projects, ministry of heavy industries additional secretary Ambuj Sharma said at the Bus and Special Vehicle Show in Greater Noida. “We have a road map till 2020 where we expect around 6-7 million electric and hybrid vehicles in the country. The government has earmarked ₹ 1,000 crore for the National Electric Mobility Mission Plan in the next two fiscals (2015-16, 2016-17)," Sharma told reporters.
Elaborating on the outlay, he said that the two year scheme would begin on 1 April this year. “After looking at the results of the two years we would further seek support in the next plan," Sharma said.
The previous United Progressive Alliance (UPA) government had launched the National Electric Mobility Mission Plan (NEMMP) 2020 in 2013 with the aim of 6-7 million units of new vehicle sales of the full range of electric vehicles, along with resultant liquid fuel savings of 2.2–2.5 million tonnes in 2020.
The targets were envisaged to result in substantial lowering of vehicular emissions and decrease in carbon dioxide emissions by 1.3% to 1.5% in 2020 as compared to a status quo scenario.
It was estimated that the government would need to provide support to the tune of ₹ 13,000 crore to ₹ 14,000 crore over a period of 5-6 years to facilitate R&D and put in place charging infrastructure.