A subsidy for electric vehicles is a financial incentive offered by the government to encourage the purchase of electric vehicles. A subsidy for electric vehicles reduces the actual cost of the vehicle. As a result, the government can cash back the subsidy amount to the direct purchaser of the vehicle.
Globally, EV subsidies are available in a number of countries. The FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) program is an Indian government program that provides subsidies for electric vehicles. The FAME program is divided into two phases, the first running from 2015 to 2019 and the second running from 2019 to 2024.
It is, for example, INR 10,000 per kWh for an electric two-wheeler with a battery capacity of up to 4 kWh, and INR 15,000 for an electric car with a battery capacity of up to 30 kWh. Please check the Electric Vehicle (EV) Policy
How to Apply for Electric Vehicle Subsidy?
To apply for an electric vehicle (EV) subsidy, you will need to follow several steps, but the process will vary based on your country or region.
First of all, you need to confirm whether you are eligible for the subsidy, based on the EV you have purchased or are planning to purchase, as some programs only cover certain types of models.
If you are eligible, you must collect all available documents such as the vehicle registration, purchase-audience certificate, and any other documentation required by the government agency administering the subsidy.
You can usually submit your documents through an online portal or special platform provided by government agencies.
Here Are the Steps for Applying for an Electric Vehicle (EV) in India:
Check the eligibility criteria: The first step is to determine if you are eligible for a subsidy. The eligibility criteria vary depending on the type of electric vehicle and the state in which you live. You can learn more about eligibility criteria on the Ministry of Heavy Industries website.
Gather the required documents: Once you have confirmed eligibility, you will need to gather the necessary documents. The documents required may vary depending on the state you are in, but they typically include:
- Proof of identity (e.g., passport, driver’s license).
- Proof of address (e.g., utility bill, bank statement).
- Proof of EV purchase (e.g., invoice).
- Registration certificate for the EV
Apply for the subsidy: You can apply online or offline. The online application process is available on the Ministry of Heavy Industries website.application process is available at EV manufacturers’ dealerships.
Submit the application: Once you have submitted the application, you will need to wait for approval of the subsidy. The approval process typically takes a few weeks.
Receive the subsidy: Once your application is approved, you will receive the subsidy amount directly in your bank account.
What is the Electric Vehicle Subsidy Portal for India?
There is an Electric Vehicle Subsidy Portal that allows eligible buyers of electric vehicles (EVs) in India to apply for and receive government subsidies through a web-based platform. As of 2020, the portal has been launched by the Ministry of Heavy Industries.
To apply for an EV subsidy through the portal, you will need to create an account and provide the following information:
- Your name, address, and contact details
- The type of EV you are purchasing
- The date of purchase
- The invoice number
- The proof of identity
- The proof of address
The Following States Have Their Own Ev Subsidy Portals:
- Andhra Pradesh
- Madhya Pradesh
- Tamil Nadu
- Uttar Pradesh
You can find more information about the EV subsidy portal and the eligibility criteria on the website of the Ministry of Heavy Industries.