NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, March 30, 2017

NEW DELHI: The government is working on a scheme to provide electric cars on zero down payment for which people can pay out of their savings on expensive fossil fuels, for becoming 100 per cent electric vehicle nation by 2030.

“India can become the first country of its size which will run 100 per cent of electric vehicles. We are trying to make this programme self financing.

“We don’t need one rupee support from the government. We don’t need one rupee investment from the people of India,” Power Minister Piyush Goyal said at an event organised by CII Young India here.

Elaborating further, he said, “We are working (on the scheme). Can we actually give electric car for free (zero down payment) and people can pay for that out of the savings on the petroleum products. Innovation is possible, it just needs an open mind. You need to think of scale and be honest.”

The minister informed that a small working group under the leadership of Road Minister Nitin Gadkari has been created with Oil Minister Dharmendra Pradhan and Environment Minister Prakash Javadekar on its board.

He said, “We are meeting in first week of April and see (if) India can be 100 per cent on electric vehicles by 2030. We are trying to see if we can monetise the savings then you will have use cheaper electricity for charing of your cars.”