Categories Industry

EAC-PM pitches for mandating EV sales by all automobile manufacturers

The Economic Advisory Council to the PM (EAC-PM) has proposed the introduction of a transferable mandate, prescribing a certain percentage of auto manufactured must be electric vehicles.
The advisor also suggested ensuring greater adoption of EVs in the government fleet to enhance demand for electric vehicle cars.
In its working paper, the EAC-PM also suggested encouraging the leasing of vehicles as opposed to outright purchase by introducing a suitable GST rate differential for leasing.
The paper has been co-authored by EAC-PM chairman Bibek Deroy and Director Devi Prasad Misra.
“Hitherto, our policies for the promotion of EVs have focused on subsidies, tax breaks, charging infrastructure etc. While we see a significant increase in the number of two- and three-wheeler EVs, the adoption of EVs in the LMV (cars) segment has remained sluggish.
“… the introduction of transferable mandates prescribing for a certain percentage of vehicles manufactured to be EVs will be an efficient w