Price of electric vehicle will reduce, Government is going to bring battery manufacturing policy soon.

August 12, 2019
Price of electric vehicle will reduce, Government is going to bring battery manufacturing policy soon.

A number of concessions, including tax exemption, were given by the Central Government to promote electric vehicles in the country. But now the government is preparing to subsidize the battery of electric vehicles. Niti Aayog has prepared a blueprint of the policy for this. It is expected that a battery manufacturing policy may come soon.

2000 kW per hour will be subsidized According to the news of news source, the government will give subsidy on the manufacture of the lithium-ion battery under the policy. Under the proposal, the government will provide a subsidy of Rs 2000 per kilowatt-hour. The direct benefit of subsidy on battery Electric vehicles will cost. In such a situation, the price of electric vehicles is expected to decrease by about 5 to 7 per cent.

Under this policy, the government intends to become about 54 Giga-watt battery manufacturing power in the next three years. Who will get the benefit of the scheme The subsidy on batteries from the government will be given to the same companies, which will set up at least 5 to 20 GHz-watt battery manufacturing plants? Under this scheme, the government will have to bear a burden of about 700 crore rupees annually. Also, zero per cent duty will be levied on the import of raw material used to make the battery.

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