How to start or buy an electric car Automobile company in India?

Electric cars or an electric vehicle, also called an electric drive vehicles are gaining popularity world-wide. Electric cars uses one or more electric motors or traction motors for propulsion. And there are many reasons electric cars have come into being, the major reasons is the scarcity of fuel and the pollution caused by normal cars.

India aims to become a 100% electric vehicle nation by 2030. According to the National Electric Mobility Mission Plan (NEMMP), India targets seven million electric and hybrid vehicles by 2020. India’s auto industry has already become one of the largest in the world due to the competitive environment in the market. According to the Review Report of Automotive Mission Plan 2016, the turnover of the auto industry is equivalent to 7.1%. As part of NEMMP 2020, Department of Heavy Industry has formulated a scheme namely FAME – India (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India) implemented with effect from 1st April 2015, with the objective to support hybrid/electric vehicles market development and Manufacturing eco-system.

Many supporters and volunteers bringing the electric car business closer to people. One such environment in online is Bizzday india business brokers. Where it gives business opportunities on buying and selling business online. One can start with small automobile component manufacturing business as an entry where electric car components can be manufactured and supply to electric car makers.

FAME is intended to support the hybrid/electric vehicles market development and its manufacturing eco-system to achieve self-sustenance at the end of the stipulated period.

For starting an electric car company in India, there are some specific steps one need to follow. These steps are actually the guidelines that need to be followed by an individual or the group who want to start their own electric care company in India. You may also find automobile company for sale online in Bizzday.

The steps are as follows:-

For the purpose of establishment an electric car company, an OEM (Original Equipment Manufacturer) would be defined as the Proprietor, Private/ Public Company or Partnership Firm who manufactures any of the EV vehicle(s) should have following :

  • Company Registration Certificate
  • Trade License
  • GST registration
  • PAN Card
  • TIN No.
  • Testing / Homologation Certificate issued by the designated Testing Centre in satisfaction of VPQC and FAME-India Guidelines for each model of manufactured vehicles separately.

OEMs can start selling vehicles after registration with National Automotive Board which, inter alia, states that particular vehicle is entitled to get benefit under the demand incentive under FAME India Scheme.

The manufacturers of said electric care model or hybrid retrofit kit manufacturer/supplier to give at least one-year comprehensive warranty including batteries and to have adequate facilities for after sales service.

Electric cars manufactured in India, will be entitled for the demand incentive scheme and designated testing center will issue conformity of Production (CoP) as prescribed to ensure this objective in line with Make in India initiative of the Government

However, one can also start an electric car company by simply buying a dealership of some brand. And for buying a dealership one can visit It’s an online platform set to help business buyers or sellers buy or sell their businesses online. At online business brokers you can buy/sell/lease/franchise any business from a manufacturing unit to a restaurant chain, a school franchise to a profitable website for sale. All you need is to just log on to Bizzday online marketplace and get all the benefits out there.

Refer for electric car model and info.