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The Indian government has been significantly supporting the Electric Vehicle (EV) sector with various initiatives. Under the Electric Mobility Promotion Scheme 2024, Rs 500 crores have been allocated from April 1 to July 31 to accelerate the adoption of electric two-wheelers and three-wheelers. Additionally, the government has set an ambitious target of 30% electric vehicles by 2030with annual sales expected to surpass 16 million units. To further incentivize this transition, approximately Rs 18,0004 crore have been dedicated to boosting EV battery production, according to the press release by the fund house. |