With the increase in pollution levels, Union government has planned to put around 7 million electric vehicles on Indian roads by 2020. It is speculated that the sum of investment required to do so will be around Rs 22,500 crore as per the report submitted by Society of Indian Automobile Manufacturers (SIAM).
The report points on the benefit of the government which will be around Rs 39-43,000 crore in the next nine years by the saving on lower emission and fuel. Definitely, the objective of the project is to reduce the dependency on fast depleting fossil fuels.
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