India approves $4.1 bln electric, hybrid vehicle drive over 8 yrs

Newswire

NEW DELHI, Aug 29 (Reuters) - India's government has approved a 230 billion rupee ($4.13 billion) eight-year plan to spur electric and hybrid vehicle production, the country's heavy industries secretary said on Wednesday, with a target of 6 million vehicles by 2020. New Delhi will provide around 130 to 140 billion rupees of that total, with corporates providing the remainder, S. Sundareshan told reporters. Headed by Mahindra & Mahindra's Reva brand, ...

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