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Heavy Industries secretary flags end of EV subsidies
The Hindu BusinessLine··3 Sept
Heavy Industries Secretary Kamran Rizvi told SIAM that EV subsidies will end in coming years. He said support has already ended in some sectors among challenges over four or five years. Electric three-wheelers account for 50 percent of segment sales, above a 10 percent 2026 target. The ministry approved Rs 2,000 crore that can go to OEMs for charging corridors.
Prism
What It Means For You
- EV buyers and makers face a future price path without the same subsidy support Rizvi described.
- Sixty high-priority corridors have been identified for electrified charging, with a two-to-three-year saturation aim.
- Rizvi said about 7 percent of two-wheelers and around 4-5 percent of cars sold are electric.
What's Happening
- Rizvi addressed the Society of Indian Automobile Manufacturers annual convention.
- He asked OEMs to take a larger role in charging infrastructure rather than leaving it only to charging firms.
- Road Transport Secretary V Umashankar said industry and government need to face fuel-mix questions together.
Where EV Adoption Stands
- Electric three-wheelers lead adoption at 50 percent of segment sales versus a 10 percent 2026 target.
- Rizvi said that share could reach 75 percent in two to three years.
- He also pointed to unmet demand for electric buses relative to supply.
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