EV: What is India's target by 2030?
EV: What is India's target by 2030?The government of india has set a target of bringing 30% electric vehicles on the road by the year 2030. In the recently presented budget, the government has announced not to levy custom duty on the import of machines required to make lithium-ion batteries used in electric vehicles. This will reduce the cost of making batteries and electric vehicles will be cheaper.The FAME II scheme was started on 1 april 2019 and a budget of 1.43 billion US dollars (10,000 crore rupees) has been kept for it. It also states that 30% of the products manufactured or processed will have to be purchased from small and medium enterprises (SMEs). The main goal of this scheme is to make public and shared transport electric.In the second phase of the FAME india scheme, a subsidy of Rs 5790 crore (693 million US dollars) has been given to electric vehicle manufacturers on the sale of 13 lakh 41 thousand 459 electric vehicles. The scheme aims to provide demand incentives for 7090 e-buses, 5 lakh e-3 wheelers, 55000 e-4 wheeler passenger cars and 10 lakh e-2 wheelers.Apart from this, the scheme also supports the development of charging infrastructure. Under the second phase of the FAME india scheme till december 2023, electric vehicle manufacturers received a subsidy of US $ 637 million (Rs 5294.00 crore) on the sale of 11 lakh 79 thousand 669 electric vehicles.