SME Times News Bureau | 04 Jul, 2015
The Indian electric vehicle industry grew by 25 percent in
2015's first quarter with the sale of nearly 5,000 vehicles, the Society of
Manufacturers of Electric Vehicles (SMEV) said on Friday.
"We are really delighted that the combined efforts of all the stakeholders
are having a desirable impact and increased sales in one of the indications of
this upbeat scenario," said SMEV's director, corporate affairs, Sohinder
Gill in a statement.
One of the key reasons for the rise in sales is because of the subsidies
announced by the government, he said, adding that the next step is to focus on
technology and work on strong charging infrastructure.
The central government had launched a flagship scheme called 'Faster Adoption
and Manufacturing of Electric Vehicles' (FAME) to give a spur to the electric
vehicle industry in India, and under it, financial assistance of Rs.795 crore
is being provided to electric vehicle manufacturers till 2020 for building
infrastructure and R and D facilities, the statement added.
SMEV is the nodal agency of the Indian Electric Vehicle Industry and counts
Hero Electric, Mahindra, Avon, Electrothem and others as its members.