(ET)
Come April 1, electric vehicles will get cheaper by Rs 20,000 to Rs 2.5 lakh, following the government’s goahead to Niti Aayog’s proposal to give purchase rebate as incentive to buyers. The move will help reduce India’s dependence on imported fuel and bring down pollution levels in the country. The Union cabinet had approved incentive of Rs 10,000 per KWH for purchase of e-vehicles directly linked to battery size under the FAME II (Faster Adoption and Manufacturing of Electric Vehicle) scheme. This will spell a saving of Rs 20,000-40,000 for two-wheelers fitted with battery of 2-4 kwh, rs 50,000-100,000 for three-wheelers (5-10 kwh) and Rs 1.5-2.5 lakh for four-wheelers (15-25 kwh battery).
