Greaves Cotton - E-mobility Business To Drive Future Growth: ICICI Direct

Diesel motor engine blocks sit stacked on shelves at automobile component factory. (Photographer: Alex Kraus/Bloomberg)

Greaves Cotton - E-mobility Business To Drive Future Growth: ICICI Direct

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Recent announcement by Department of Heavy Industries for modification of the scheme for faster adoption and manufacturing of electric vehicles in India phase II, including increasing the demand incentive to Rs 15,000 per kilo-watt hour from the earlier uniform subsidy of Rs 10,000 per kilo-watt hour for all electric vehicles (including electric-two-wheeler, electric-three-wheeler) including plug-in hybrids and strong hybrids, except buses and the limit on the incentives for an E-two-wheeler is now capped at 40% of its price, twice the previous limit of 20%.

Besides these incentives, various state governments are providing additional incentives to drive faster EV adoption, such as additional subsidies on EV purchase, increased outlay for EV infrastructure, promoting EV start-ups, and exemptions from registration and other fees that are applicable to normal internal combustion engine vehicles.

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ICICI Direct Greaves Cotton Company Update.pdf

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