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India: Mahindra & Mahindra seeks subsidy to promote electric cars

NEW DELHI: Expressing disappointment over lack of support to promote electric cars in India, Mahindra & Mahindra CMD Anand Mahindra asked the government to grant subsidies to automakers to promote green cars.

“We’ve been disappointed because we were banking on a subsidy that the government had in place for electric cars which has expired. The government was committed to maintain it but hasn’t done so far. So, that has put a sticker price hurdle,” Mahindra told reporters at the C ..
Calling for a favourable policy to promote eco-friendly cars, he said: “I think the government has to come back and step in, and weigh in favour of the new rules.”

On March 31, 2012, the Ministry of New and Renewable energy (MNRE) ended a scheme under which 20 per cent subsidy was offered to consumers on purchase of electric four-wheelers and two-wheelers. Under the scheme, the MNRE provided a cash subsidy of Rs 4,000-5,000 on electric two-wheelers and of Rs one lakh on electric cars. ..



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