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Government Subsidies On EVs In India

An increasing number of people are opting for electric vehicles (EV) over petrol or diesel vehicles. This option is not only better for the environment, but is also more efficient as compared to traditional fuel-powered vehicles. Moreover, rising petrol and other fuel prices have triggered an increase in the number of customers who want to shift to electric vehicles. In India, electric vehicles are not only cost-effective, but they also have financial benefits.

Individuals who purchase EV on loan will be eligible for a tax reduction of Rs 1.5 lakh on the interest charged on the mortgage balance under this provision. There are plenty of electric vehicle models on the market, and with increased sales, some automakers are planning to introduce new models.

This article will take you through the government subsidies on electric vehicles in India.

The Indian government has been pushing for the adoption of electric vehicles (EVs) in the country. The government is not only providing various subsidies to buyers of EVs but also has announced schemes to promote the setting up of charging stations.

In a recent development, the government of India has decided to give significant subsidies on Electric Vehicles (EVs). The government is already giving an incentive of INR 9,000 on electric two-wheelers and three-wheelers, and the latest decision will further sweeten the deal.

India has taken a bold step forward by supporting the electric vehicle industry with generous incentives in an attempt to see a rise in electric vehicles manufactured and sold within the country. Electric vehicles in India are poised to become a major player while helping to shape the future of the automotive industry

The Electric Vehicles Policy of the Government of India was launched in 2017 with a vision to have at least 30% of vehicles on Indian roads as EVs by 2030. In order to achieve this, the government has been supporting the usage of EVs in the country through various means.

The most important support has been in terms of subsidies that are given to electric vehicle manufacturers and buyers. Listed below are the various subsidies on EVs given by the Government of India.

FAME Scheme

Fame India Scheme 2022 was launched keeping in mind the pollution which was happening due to the vehicles which are operated through diesel and petrol. The first phase of the scheme is already done by the concerned authorities of the Indian government. Now, phase two of the scheme was started under which the Government of India will be giving out 670 electric buses in the states of Maharashtra Goa Gujarat, and Chandigarh and it is also said that 241 charging stations will be provided in on the streets of Madhya Pradesh, Tamilnadu, Kerala, Gujarat, and Port Blair. This will help in the development of the areas with electrical vehicles.

The Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme was launched in 2015 which aimed at encouraging adoption of eco-friendly vehicles by offering incentives on electric and hybrid vehicles. The scheme was extended up to March 2019 with an outlay of Rs 5,500 crore, out of which Rs 1,000 crore were reserved for two-wheelers.

However, the amount isn’t allocated based on the price or type of vehicle but the battery capacity. That means higher incentives go to buses and commercial vehicles compared to cars and two-wheelers. Under FAME, the government offers an incentive ranging from Rs 10,000 to Rs 20,000 for 2-wheelers with battery capacity less than 3 KWh, up to Rs 22,000 for 2-wheeler with battery capacity between 3 KWh and 9 KWh.

Fame India Scheme Extended Till 2024

The Government of India has launched the FAME II scheme to promote electric mobility. It is an acronym for Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India. Through this scheme, the government is going to provide subsidies on the purchase of new electric vehicles. The government has extended the FAME II scheme for 2 years. Now, this scheme will be applicable till 31st March 2024. Previously this scheme was launched from 2019 to 31st March 2022. Under this scheme, necessary charging infrastructure will also be set up for electric vehicles. Fame India scheme has been launched with the objective to address the issue of environmental pollution and fuel depletion. Under this scheme, the government has also increased the subsidy incentives from Rs 10000 per kWh to Rs 15000 per kWh.

Sales Of Vehicle Under Fame India Scheme

As of 26 June 2021, 78045 total electric vehicles have been sold through the Fame India scheme which includes 59984 electric two-wheelers, 16499 electric three-wheelers, and 1562 electric four-wheelers. The government has allocated a budget of Rs 10000 crore for the implementation of this scheme. Only 5% of the budget amount is used till now i.e. Rs 500 Crore. In terms of sales 58613 electric two-wheelers have been sold till March 2022. The target was to sell 10 lakh units so the government has decided to extend this scheme till 2024.

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EV Chargers: What You Need to Know Before You Buy

The first step in buying an EV charging station is figuring out what kind of charger you need. The U.S. Department of Energy suggests that level 2 chargers are the best option for most home owners since they are more powerful and faster than level 1 chargers. Level 1 chargers plug into a standard 120V outlet while level 2 chargers require a dedicated 240V circuit and generally take half the time to charge an EV.

There are two types of level 2 chargers: portable and hardwired. Portable chargers can be moved from one outlet to another, while hardwired chargers remain securely fixed to one location—usually on the side of a house or garage.

If you want to get information on exactly how much each type of charger costs, check out our page on EV charger prices. And if you want to see how long it takes to charge an electric car with a 120V or 240V outlet, check out this guide by ChargePoint.

Where do you want to put your charger?

Choosing the proper location for your charger is essential, as it will determine how expensive and effective your EV charging experience will be. ChargePoint has a wide range of EV chargers for home, business or fleets that can be set up at home, inside of a garage or outside under a carport or car shade.

How safe & dependable your charger is?

We understand that users install EV chargers to have peace of mind with respect to ease and accessibility of charging. This is why we have made sure that the product is high quality, weatherproof, shock-resistant and conforms to safety standards.

Will the charger help save money?

One of the reasons you might be considering buying an EV is because they are more cost-effective to run. Their lower running costs, compared to conventional cars, will continue to be a significant factor in your decision making process.

Source of income

Install an EV Charger if you have an Electric Vehicle: If you are the owner of an electric vehicle, you should install a charger in your home/garage. It will be more convenient than charging your car at a public charging station. If the intention of installing an EV charger is to earn money by offering charging facilities to other EV owners, there are options for that too. EV chargers are being installed at shops, restaurants, shopping malls, petrol pumps, parking spots, workplaces, societies, etc. EV chargers can be a good source to generate passive income.

For example: If a public space like a mall or a parking spot has only one charger, and it charges ₹50/hr for charging services, then it will earn ₹600 by charging 12 EVs in 8 hours which is the average operating time of most commercial spaces. In case there are two chargers installed at the same location and they charge ₹50/hr each for charging services then they will be able to earn ₹1200 in 8 hours.

Conclusion

Charging at home is far more convenient than charging at a public station. When you charge your EV at home, you don’t have to worry about range anxiety, looking for an available station, or dealing with long lines. Plus, you can take advantage of off-peak electricity rates, which are lower in the evening hours. This means that it costs less to charge your vehicle overnight than during normal work hours (when most people drive their vehicles).

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How Electric Vehicle Charging Stations are essential for India’s Future

Electric vehicles (EVs) are the future of car manufacturing. The world has been facing many climate and climate change issues as it is a global issue, and sustainability has emerged as a viable answer for a secure future. The government is looking forward to setting up a sustainable solution. Here, EV (Electric Vehicle) comes into the picture as new technology and invention enable the journey towards a clean, green, and sustainable future.

Our country is on its way to meet its obligations under the Paris Agreement 2015, becoming the first G20 country to do this. India’s ability to meet its 2030 climate goals will depend on concerted efforts to produce sustainable energy and decrease greenhouse gas emissions.

The use of EVs has several benefits over conventional vehicles such as reduced noise pollution, lesser dependence on fossil fuels, reduced emissions, etc. In addition to this, EVs have lower maintenance costs and offer better acceleration than conventional vehicles despite their lower power output ratings due to the higher torque rating at all speeds compared with internal combustion engines (ICE).

Electric vehicles (EVs) have been around for some time now, but they have only recently begun to gain traction in India. The lack of charging infrastructure and high cost of EVs are some of the reasons that have held back their adoption in the country. However, with the government’s push towards an electric future, things seem to be changing for the better.

The government has announced a target of 6 million EVs by 2020, which includes both two-wheelers and four-wheelers. This is a significant increase from the current numbers of around 1,000 EVs reportedly running on Indian roads today!

The government also plans to establish charging stations in public places such as malls, airports and railway stations across India. This will help people who don’t have access to their own garage or driveway charge their vehicles at home instead of having to go out somewhere else to do so.

Lower cost of ownership: The upfront cost of an electric vehicle (EV) may be higher than an internal combustion engine vehicle (ICEV), but due to lower maintenance costs, its total cost of ownership (TCO) is lower than that of ICEV over a 3-5 year period. In addition, electricity is much cheaper than petrol or diesel.

Government incentives: It has been estimated that EVs would make up 2-3% of all cars sold by 2020 (the original target was 5%). For example, Mahindra & Mahindra offers a Rs 45,000 rebate on the purchase of its e2oPlus model in Delhi.

Generation and storage technology growth: The generation and storage technology for EVs has seen tremendous growth over the last few years, resulting in better.

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DMS Offered the exhibitors a fully managed solution for Rich SMS that helped increase their visiters

Today consumers expect brands to offer a fast, personalized and efficient customer service. But for brands, the question is how to do that without having to invest in new channels. The answer is RCS Business Messaging from Google. Built on the most widely used messaging app in the world, Android Messages, RCS Business Messaging brings businesses and customers closer together with features like group chat, high-resolution photos and videos, read receipts, and more.

Cosmo Tech Expo is India’s Biggest Manufacturing Solutions Trade Show for the Cosmetic, Personal care, Cosmeceutical, Perfumery & Soap, detergent, and toiletries market. CTE being the Leading & Most Successful Tradeshow will be exhibited by 800+ Suppliers from the Ingredients, Fragrance, Packaging, Aerosol, Machinery, Label Equipment, and Private Labelling.

Cosmo Tech (now in its 7th Edition) is conceptualized on bringing the complete Innovative solutions to the beauty manufacturers right from the concept to formulation to technology to product launch for making the advancements in the manufacturing world.

With a target audience, Cosmo Home Tech is always trying to improve customer communication and deliver a convenient, innovative experience.

By using RCS (Rich Communication Service) in their communication efforts, Cosmo Home Tech was able to improve customer engagement and experience.

They are always looking for the best way to inform their customers about the latest Expo updates, no matter where they are.

Cosmo Home Tech’s customers receive interactive RCS messages listing:

Exhibition Date & Time

Venue/Location

Register From

WhatsApp Button

Call Now Button

Better engagement and customer experience

Through RCS Business Messaging, companies can keep their messaging aligned with their brand by embedding RCS-enabled elements such as:

Logo 

Brand name 

Images/Video

Carousels 

Call To Action

As a result of the solution and support provided by DMS, the Cosmo Home tech team was able to quickly and effortlessly send RCS marketing campaigns.

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Use cases of RCS Messaging Service

Businesses can seamlessly communicate with their customers by delivering rich, context-sensitive messages using RCS. Businesses can also send branded messages with the company logo and other information about their businesses along with a verified badge so that the recipient knows who sent the message.

It is possible to deliver a personalized customer experience in customer care, sales, branding, marketing, and advertising without developing a standalone product. RCS can transform business communications between enterprises and customers.

If you are having a sale, you can help your customers better visualize the offers by providing them with images from inside your stores. If you are promoting an event, you can use RCS to interactively communicate with customers.