Context
In order to meet its decarbonization goals, India will introduce a new policy for battery swapping to boost sales of electric vehicles (EVs).
Background
Analysis
Key Takeaways from the policy
Government’s initiative Government seeks to achieve the target of electric vehicles to make up 30 % of new sales of cars and two-wheelers by 2030. India has launched the National Electric Mobility Mission Plan (NEMMP) and Faster Adoption & Manufacturing of (Hybrid &) Electric vehicles in India (FAME India), to build a sustainable EV ecosystem. FAME SCHEME
Objectives of FAME Scheme:
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Way Ahead
The government will give $6 billion in incentives to companies to build clean vehicles and produce batteries locally as it plans for electric cars to make up 30% of total private car sales by 2030 and for electric motorcycles and scooters to make up 40% of total sales
Verifying, please be patient.