By Abhishek Gautam
July 28, 2023
Subsidy is provided as a direct discount to the EV buyer while buying an electric vehicle in India.
On buying an electric scooter in India, a Subsidy of Rs 15,000 per kWh of the battery capacity upto 40% of the vehicle's cost is provided.
A subsidy of Rs 10,000 per kWh of the battery capacity upto 15kWh is provided by the central government on the purchase of electric cars in India.
A subsidy of Rs 10,000 per kWh of the battery capacity upto 5kWh is provided by the central government on the purchase of electric three wheelers in India.
Electric Vehicle Owners are exempted from paying road tax while purchasing the EV for a period of two years in India.
Income tax benefit for electric vehicle buyers in India is provided as deduction in the overall income tax payable by the EV owner to the government.
Electric Vehicle buyers are exempted from paying the one-time registration fees while purchasing the electric vehicle in India.
EV buyers are offered lower interest rates while availing loans for electric vehicles in India. This is provided by the loan provider organization itlself.
Central Government currently offers incentives on scrapping the ICE-powered vehicles and switching over to EVs.