Indian Electric Mobility demands for subsidies continue

The industry group IEMC advocated the continuance of the subsidies provided to the electric vehicle industry and issued a warning that their removal will result in a drop in EV sales to 37 million units by 2030 from an expected 125 million.

The sales of electric vehicles (EVs) in India are expected to drop from an anticipated 125 million units to 37 million units by 2030, according to the India Electric Mobility Council (IEMC) and India Energy Storage Alliance (IESA).In 2015, the central government introduced the FAME (faster adoption and manufacturing of hybrid and electric cars) program, under which makers of electric vehicles receive subsidies that are then passed on to consumers. 2019 saw the start of the FAME II scheme’s second phase.

The scheme, which also provides incentives for setting up battery charging stations in the country, is likely to end in March next year to ensure sustained growth of EV adoption in India, more than 80 EV companies gathered in New Delhi and proposed a holistic reconsideration of demand and supply enablers impacting the EV industry postFAME II scheme,” IEMC said in a statement.