In the wake of the difficult recession period, electric vehicle makers who wanted to make it big are now going through a tough phase and have approached the government for a 25% subsidy.

It is to be mentioned here that the sales of electric vehicles, especially scooters, which was growing at a healthy pace just last year, have stagnated in recent months.

The reasons are many- the absence of incentives from the government, such as a reduction in duties, high cost of setting up charging stations etc. All these are making companies such as Hero Electric, Electrotherm India Ltd and Reva Electric Car Co. face great difficulty to boost sales.

Cuts in petrol prices announced in December and February have also acted as a dampener by narrowing the incentive in shifting to electric vehicles.

However, the good news is that in the months to come, the industry could get some relief, as an official at the ministry of new and renewable energy, informed that it was planning to help the industry set up manufacturing facilities. He also added that a policy will be announced soon after the elections.

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Posted by Nilakshi Handique on 4 May, 2009 2:50:07 PM IST #