To boost EV sales, govt to clarify on exemption from 15-year 'End of Life' rule
According to TOI, the power ministry will also expedite the extension of Corporate Average Fuel Economy (CAFE) norms, meant to reduce fuel consumption and CO2 emissions, to urban freight vehicles, trucks and buses. These measures were finalised at a recent high-level meeting chaired by Niti Aayog member Rajiv Gauba amid concerns over the slow pace of EV penetration, which stood at just 7.6% in 2024 against the 30% target for 2030. While adoption is higher in two- and three-wheelers and buses, penetration for four-wheelers remains low, and e-trucks have yet to take off, TOI said.
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Sources told TOI that during the meeting, road transport secretary V Umashankar noted that most buses over 15 years old are privately owned. In response, Niti Aayog CEO BVR Subrahmanyam suggested that exempting EVs from the EoL regulation could help spur sales. Umashankar also said that mandates for EV adoption work best where penetration and ecosystem readiness are higher.
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Sources further told TOI that there was consensus on shifting from incentives to mandates and disincentives to speed up EV adoption, starting with saturation strategies in five cities for buses, para-transit and urban freight vehicles. A source added that participants unanimously agreed on the need to expand charging infrastructure, deploy fast chargers, develop new battery technologies to reduce import dependence, and improve financing for e-buses and e-trucks.
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TOI reported that, days later, the finance ministry convened a meeting with banks to address their reluctance to finance EVs and concerns over high interest rates. Chaired by financial services secretary M Nagaraju, the meeting saw banks urge the government to standardise batteries, reduce vehicle costs and offer incentives for new battery purchases, given that batteries, typically replaced every 6-7 years, account for 40-50% of an EV's cost.
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