Energizing India News, 6 Aug 21′
The Indian government has given the green signal to a landmark rule. In an attempt to attract more people to switch to EVs, the central government has scrapped the registration fees of electric cars.
The central government had recently announced the draft notification to make a few changes to the Central Motor Vehicles Rules of 1989. In the new draft, it is proposed that Battery Operated Vehicles (BOV) will be exempted from paying fees for issuing a Registration Certificate or renewing it.
This move from the central government comes as a blessing for electric vehicles and the industries depending on them. A few states in India have already waived off any registration fees. But this new policy will be implemented across the country, helping both EV manufacturers and customers uniformly across the country.
Currently, the EV sales in India for the FY2021 are at 2,38,120 units, which is 57,377 units less than EV sales in FY2020. Despite an almost 20% dip in EV sales, both the manufacturers and the government believe that the EV segment in the country is a rapidly booming sector.
With the added support from the government, it looks like the EV segment will grow at a much faster pace than ever before.
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