India’s Surge in Electric Vehicle Adoption
31. August 2023The Ministry of Road Transport & Highways recently released data showcasing a significant uptick in electric vehicle (EV) registrations. From a modest 130,254 EVs in 2018, the numbers have skyrocketed to 847,439 by 2023, indicating a growing preference for sustainable transportation. EVs and EV-specific components can be subject to AIS-certification, BIS-certification, and Battery Waste Management regulations in India.
To support this momentum, the government has been proactive and launched the “Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India” (FAME India) Scheme. The FAME India Scheme emphasizes the electrification of public and shared transportation. Moreover, the Production Linked Incentive (PLI) scheme was established to financially back the EV sector and make these vehicles more accessible to the public.
Further sweetening the deal for potential EV owners, the government has granted battery-operated vehicles permit exemptions and has waived off their registration fees, making the transition to green transportation even more appealing.
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