SIAM Welcomes Incentives for Electric Cars

Society of Indian Automobile Manufacturers (SIAM) is thankful to the Government of India, especially the Ministry of New & Renewable Energy (MNRE) for supporting implementation of alternative fuels for surface transportation programme, specially Electric Cars in India by announcing an incentive package worth Rs 95 crores for all types of Battery Operated Vehicles (BOVs), Plug-in Hybrid Vehicles (PHEVs), Hybrid Electric Vehicles (HEVs) and Electric/Exercise-Bike Generator Inverter (E2BI) for use for transportation.

Dr Pawan Goenka, President SIAM and President Automotive & Farm Equipment, Mahindra & Mahindra welcomed the incentive package and said that the industry is encouraged by the initiative taken by the Ministry of New and Renewable Energy.

Dr Goenka added that the extension of the existing scheme to cover all categories of Indian individuals and institutional users would go a long way in encouraging development of such vehicle technology in India.

The industry also appreciated the move to encourage indigenous development as against only imports by the requirement of minimum 30% being the indigenous components used in these electric cars.

Dr Goenka also mentioned about the initiative taken by the Government to develop a National Electric Vehicle Mobility Plan which would look at the policy, technological and infrastructure support required for development of an enabling environment for Electric cars in the country over next ten years and reiterated SIAM’s continued support to the Government in all such endeavours.

Also, the incentives have been announced for the remaining period of the 11th Five-year Plan of the Government of India. Dr Goenka added that we hope that this support would continue even as the part of the 12th Five-year Plan of the Government of India since this is a “technology leap” programme and would require support for an extended period.

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