Reducing various schemes and benefits related to EV buying has been responsible for a significant decline in sales. State Authorities are reducing incentives that evoke people to buy EVs. However, the effort for the greater good is being harmed and the EV industry is suffering due to the direct policies.
Historically, EV implementation in India was essentially aided by subsidies. It was a two-way beneficial approach for both- the subsidies and bonuses. The EV industry is still at an infant stage, however, experts have termed these subsidies a lifeline for the sector. Most state governments are considering eliminating EV rewards, which has forced the manufacturing industry to taste the coastline as the potential for an essential fall in revenue and profits.
The Evolution of India’s EV Industry
As per the IPCC’s recent reports, human activities are a crucial player in dreadful climatic conditions. EVs have minimal impact on the environment as well as they cut down carbon emissions, thereby making them the most preferred and sustainable choice.
Indian state subsidies have helped varying EV manufacturers sustain, and prospects persist showing a healthy aid compulsion towards this new and potentially comprehensive transportation mode. For example, Apple Energy has released a series of state-of-the-art electric vehicle chargers that are both inventively appealing and affordable to operate and maintain.
Challenges & Opportunities with EV Adoption
“Mileage Kitna Degi”
Battery charging and mileage anxiety are major concerns when buying EVs in India and globally. EV manufacturers are trying hard to manifold the mileage by eliminating weight and optimizing energy-draining technology. The heavier the car, the lesser will be the mileage. Engineers are researching weight elimination through deputy materials, manufacturing processes, and building optimized car interiors.
Besides, high cost and charging infrastructure are lesser accepted concerns for EVs today. Being automotive designers, how can enhance and optimize the perceived quality while maintaining low costs and weight? Some room for thought there!
EVs expose a wider change to the country’s infrastructure. With an improvement in infrastructure and charging stations being available, more people would prefer buying EVs.
On a brighter note, a comprehensive EV packs a stable power source- unlike fossil field-driven cars.
Initiatives Taken by the Indian Government to Introduce EVs
The EVs have the full support of the Indian government and the government pledges to replace gasoline and diesel vehicle by 2030. Additionally; with a boost in EV usage, India will be a significant EV producer, thereby formulating the export of the same globally. The overarching policy of FAME II is exercised to accommodate the need for financial incentives for EV drivers in India. While only 10 per cent has been invested in enhancing the supercharger network, i.e., 86% is infused within investment incentives.
Before FAME II, the government capitalized about 343 crores on FAME I to fund the buying of 2,78,000. Up to Rs.15,000 per kWh of battery capacity was offered by the Federal government for motorcycles and scooters. Besides, the government disburse around Rs.10,000 kWh for the storage capacity considering four-wheelers, of about Rs. 1.5 lakhs.
An estimate of about 20 states followed the Federal Government’s footsteps in favouring EV adoption. State buses will be replaced with electric engines in particularly four cities and the state of Andhra is all set to have 10 lakh EVs on the road.
Gujarat takes immense pleasure in announcing it to have about 1 lakh EVs on the road by the end of 2022. The figure encompasses 80,000 two-wheelers, 140,000 three-wheelers, 1500 buses, and 4,500 four-wheelers. EV owners will benefit from a 50% decline in their motor vehicle tax burden and a waiver of the application fee.
Maharashtra is all set to accelerate the adoption of EVs and aid in developing the charging infrastructure. The state government formulates policies to offer incentives for setting up public charging stations and aims at driving Maharashtra as the nation’s top EV manufacturer in India. The policy implies the registration of 10% of new EVs by 2025 followed by the electrification of 25% of public transport in six urban centres– Mumbai, Nagpur, Pune, Amravati, Aurangabad, and Nashik.
Public charging EV stations will be offering electricity to anyone in need. Registration fees and road taxes in the state of Telangana will be waived for the initial two lakh e-bikes; 23,000 three-wheelers, and 5,000 four-wheelers. There’s a ten-year duty holiday for public EV charging stations.
Circumstances Post-Subsidy & Incentive Deductions
With varying tax breaks handy, the electric vehicle phenomenon has a bright future for both buyers and sellers. While it seemed like they took a backseat due to the onset of withdrawal effects. The Ministry of New and Renewable Energy decided to terminate all EV-related incentives on March 31st. EV sales are devastated by 70 per cent due to the recall.
As per reports, during the curtailment, factories lost contracts with nearly 250 distributors. The manufacturers request a minimum of 50-60 crores to be utilized for EV buyers’ subsidies.
How Apple Energy EV Chargers Can Suffice Your Needs
For India to attain its goal of establishing itself as a carbon-free state and an EV state by 2030, the tax deduction and rewards must be maintained. This will enable the best EV charging solution providers in India like Apple Energy continue to produce top-notch EV chargers. As one of the leading EV chargers providers, Apple Energy plays an essential role in making people’s journeys fast and smooth. Apple’s EV AC charger and EV DC charger are designed keeping in mind prospects and individual requirements.
We believe in offering customers the best and most convenient EV charging experience, allowing them to charge where, when, and how they desire. We are laying the foundation for a future of besuited, reliable, and emission-free mobility, accessible by anyone, anywhere. We provide a complete suite of EV charging solutions right from compact, high-quality AC chargers, to reliable DC fast charging with vigorous connectivity.
**Apple Energy connected chargers allow fast service and proactive maintenance!