Which shares will run away from the Electric Vehicle Boom in the country?  Learn

Know, how far is our country in subsidizing EV, what is the situation in China, America and UK?

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new Delhi. Efforts are on to promote electric cars to reduce dependence on petrol and diesel cars around the world. The main reason for this is both rising fuel prices and increasing pollution in the world. In many countries, governments are helping customers buy electric vehicles.

Today we know that in which country of the world gets the maximum subsidy or discount on buying an electric vehicle. Where does India stand in this matter now? First let’s talk about the country which gives the highest subsidy.

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Norway
The first name in this list is of the European country Norway. This country is at the forefront of promoting Zero Emission Vehicle. Today, Norway has the largest number of electric vehicles. The Norwegian government does not charge purchase and import tax on buying electric vehicles, 25 percent VAT exemption, no road tax, no toll, free parking and scrapping petrol and diesel cars.

European Union
Beginning in 2021, nine EU countries urged the European Commission to accelerate the EU-wide phase-out of petrol and diesel cars. Currently, 17 member states of the European Union offer incentives for the purchase of EVs. For the purchase of a new electric car by Romania, a bonus of 10,000 euros i.e. about 8 and a half lakh rupees is given, while Finland only gets a bonus of about two lakh rupees.

France
France currently offers two types of advantages on electric vehicles. The first is the ecological bonus and the second is the conversion bonus. Combining these two incentive programs, customers can avail discounts of up to 19,000 Euros, or around Rs 16 lakhs, when buying an EV depending on the region.

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Germany
Germany has taken strong steps to encourage customers to switch completely to electric or hybrid vehicles. The German government gives 6,000 euros for the purchase of vehicles that cost less than 40,000 euros. Which according to Indian rupees is about 5 lakh rupees.

United Kingdom
The United Kingdom is slightly behind the European Union in this respect. Buying an electric vehicle here gives a discount of 35 percent of the cost of the car (maximum 3,000 pounds i.e. around three lakh rupees) and 20 percent (maximum about one lakh rupees) of the cost of the electric bike.

America
Electric car buyers in America get a discount of $ 7,000 i.e. about Rs.5 lakh. The scheme has an upper limit and as soon as the total EV sales of a manufacturer reaches 200,000 units, the subsidy for the model offered by the particular manufacturer will end.

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subsidy in india
The Government of India launched the Faster Adoption of Electric Vehicles in India (FAME) in 2019 to promote electric vehicles in the country. Under this, initially a subsidy of Rs 10000 was given per kWh. Later in June 2021, the government increased this limit to Rs 15,000 per kWh to promote electric vehicles. It was named FAME-II. Similarly, the state governments of India also give different incentives.

get benefit like this

  • For two-wheelers: Rs 15,000 per kWh of battery capacity (up to a maximum of 40 per cent of the cost of the vehicle)
  • For four wheeler: Rs 10,000 per kWh battery capacity (maximum up to Rs 1.5 lakh)

China
Electric vehicles in China are not subject to registration and driving restrictions. In 2020, China introduced purchase incentives for electric cars with a range of more than 400 km. Electric ranges of 250 km and less than 400 km will also get major incentives. However, according to Reuters, these subsidies were cut by 20 percent in 2021 and by another 30 percent in 2022.

Tags: auto news, Car Bike News, Electric Car, Electric Vehicles

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