The government has decided to fund up to 60 per cent of the R&D cost for developing indigenous low-cost electric technology that will help power two-, three-wheelers and commercial vehicles operating in public spaces, a move aimed at reducing pollution.
The government, which considers electric mobility as an alternative to cut pollution and boost its ‘Make in India’ initiative, expects low-cost electric technology to help replace petrol- and diesel-run vehicles, which are currently used as public transport.
The intent is to make the hybrid and electric vehicle market in India self-sustaining by increasing domestic capacities for product and technology development. The government is inviting proposals in five areas, which will be undertaken as consortia projects involving multiple companies and academic institutions.
The government has agreed to provide up to 60 per cent of R&D costs involved in eligible projects,” said a senior government representative.