Subsidies, tax rebates critical for faster adoption of EVs: Ather Energy


PTI, Jan 25, 2022, 9:12 AM IST

New Delhi:  Hero MotoCorp-backed electric two-wheeler maker Ather Energy on January 24 said subsidies and tax rebates under the FAME II policy are extremely important to push for faster adoption of electric vehicles.

The company, which markets two scooters – Ather 450X and the Ather 450 Plus – also sought the inclusion of electric vehicle (EV) startups under the PLI (Production-Linked Incentive) scheme. ”The demand for electric vehicles continues to surge ahead as consumers reap benefits offered by the FAME II subsidy and tax rebates. To keep up the consumer demand and to drive faster adoption of EVs, we are hopeful that the FAME II subsidy would continue well beyond 2023,” Ather Energy co-founder and CEO Tarun Mehta said in a statement.

The demand for electric vehicles continues to surge ahead as consumers reap benefits offered by the FAME (Faster Adoption and Manufacturing of Electric Vehicle) II subsidy and tax rebates, he added.

”The EV sector requires such early bird incentives to accelerate manufacturing and consumer adoption to ensure stability in the coming years as we see new players emerging, offering reliable products and value compared to petrol vehicles,” Mehta noted.

He stated that in 2021, the government launched several initiatives, including the PLI scheme, to enhance the country’s manufacturing capability.

”However, while the startups form the majority of the EV ecosystem in India and have led the EV revolution from the front, a majority of them are ineligible for the PLI scheme,” Mehta noted.

There is a need to be inclusive in this approach, as startups would help open up more opportunities for the industry to help drive growth and innovation in the sector, he added.

”Similarly, EV manufacturers have highlighted concerns around GST inverted structure and have requested reducing taxes on input costs,” Mehta stated.

Another key aspect to drive faster EV adoption is the charging infrastructure development to boost consumer confidence, he said.

”There is a tremendous requirement to mandatorily ensure EV charging infrastructure to be set up in all existing and upcoming housing projects and commercial establishments.

“Also, incentivising setting up EV charging stations in existing residential areas, housing complexes, and commercial establishments will go a long way in setting up the infrastructure,” Mehta noted.

The introduction of progressive policies backed by speedier implementation will drive faster adoption of EVs in the country, he added.

The Bengaluru-based company is setting up its second manufacturing facility — which, once commissioned this year, will expand its capacity to 4-lakh vehicles per year. Earlier this month, Hero MotoCorp announced to further invest up to Rs 420 crore in Ather Energy.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Counting of votes underway for bypolls to three Assembly segments in Karnataka

Ullal: 70-year-old man allegedly rapes minor girl

Drugs worth Rs 6 crore seized in Bengaluru, five arrested

Siddaramaiah urges Nirmala Sitharaman to address NABARD’s loan cuts to farmers

Karnataka HC denies anticipatory bail to Prajwal Revanna in sexual harassment case

Delhi court stays defamation case against CM Atishi

Awards don’t create value for independent films in India: Manoj Bajpayee

Related Articles More

Passenger vehicle wholesales up marginally at 3,93,238 units in Oct: SIAM

HMSI recalls GL1800 Gold Wing units to fix faulty component

Hero MotoCorp looks to scale up EV biz, lines up new models

Royal Enfield forays into electric bike segment; unveils first model under Flying Flea brand

Maruti Suzuki looks to cash in on ‘few lakh marriages’ in Nov to carry festive sales momentum

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Bengaluru: Woman accused dies by suicide, alleges harassment by investigating officer

Counting of votes underway for bypolls to three Assembly segments in Karnataka

MVA collects letters of support from over 160 candidates to form govt in Maharashtra

Mangaluru woman files complaint against husband for instant Talaq and harassment

MSEZ partners with Italy’s MIR Group for Rs 1,500 cr green facility

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.