India’s National Council for Electric Mobility (NCEM) has approved a $4.1bn National Electric Mobility Mission Plan (NEMMP) 2020 to support the production of electric vehicles (EVs) and hybrid vehicles up to 2020.
Through the plan, the country has also aimed to sell six million hybrid and EVs by 2020 of which four to five million are expected to be two-wheelers, which follows China's aim to produce 500,000 EVs by 2015.
NCEM said in a statement that the substantial savings on account of a decrease in liquid fossil fuel consumption, owing to a shift to electric mobility, would more than offset the support, justifying the initiative as an economically viable proposition.
"The resultant benefits from fossil fuel savings are projected at 2-2.5 million tonnes in 2020," NCEM said.
"Carbon dioxide emissions are also projected to rise up to 1.5 per cent by the end of the Plan period."
Of the total investment, New Delhi is expected to offer INR130bn ($2.3bn), with the remaining investment will be provided by the Companies in India.
