Wednesday, December 01, 2010

Lithium Drive: India will introduce a robust incentive plan to promote the use of electric vehicles tnr.v, rm.v, lmr.v,, tsla, sqm, fmc, roc, lit, li.v, wlc.v, clq.v, res.v, ree,, nsany, f, gm,, dai, byddf, hev, aone, vlnc


  India will be another huge market for EVs: Electric Bikes and Electric Scooters like the one above. If it can grow like in China, in time we will have another exponential growth in the market driven by population, pollution, congestion and ability to power your ride from the socket at home.

"If only Electric Scooters can have at least 25% growth rate of Electric Bikes in China, our mass markets for EVs will be taking off very fast. They are destined to be a hit in Europe, where CE scooters are presented already in a mass market fashion. Huge growing markets in Asia will be the next step in developing of this EV segment. Paris Motor Show 2010 has put on the map a few models ready to go on the market: Peugeot have a few models alone among other automakers."

"Today first GM Volt is rolling off from the factory line and CNBC is on air from the GM to highlight this event all the day. Peak Oil revelations will bring more and more people to the realisation of the fact that Electric Cars are the way forward now. More than 6000 people test driven Chevy Volt during recent promotion sessions and many thousands more attended Nissan Leaf Test Drives all across the country.

  It is the very beginning, but this new trend can be changing our lives very fast - Electric Cars are coming on our drive ways now."

"India's government will soon introduce a robust incentive plan to promote the use of electric vehicles (EVs). The scheme, laid out by India's Society of Manufacturers of Electric Vehicles and approved by the nation's Ministry of New and Renewable Energy, will provide manufacturers of EVs with incentives of up to 20 percent, subject to a capped limit, on each battery-powered vehicle sold.

Though the approved plan provides incentives for most everything that rolls along using electric power, it's expected to boost the sales of battery-powered two-wheelers more than anything else. The cap on incentives is laid out as follows: 4,000 INR ($90 U.S. at the current exchange rate) for low-speed electric two-wheelers, 5,000 INR ($110 U.S.) for high-speed battery-powered two-wheelers and 100,000 INR ($2,196 U.S.) for electric cars. The incentives seem measly, but considering that the average electric two-wheeler sold in India costs just 25,000 INR ($549 U.S.), the kickback is actually way more significant than one might assume.

Society of Manufacturers of Electric Vehicles director Sohinder Gill outlined the projected impact of India's incentive scheme, stating:
This could have an immediate impact on sales of electric two-wheelers. In terms of monthly sales, we expect an immediate doubling of sales. Moreover, those electric vehicle makers who were getting frustrated, will now feel encouraged to grow the market further. Although these incentives are for the manufacturers to carry out R&D activities and to increase capacities, we will surely pass on partial benefits to the buyers.
At present, India's electric two-wheeler market tops out at around 85,000 units annually. A doubling, expected to come courtesy of the incentive program, would rocket segment sales to 170,000 strong."
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