November 27, 2022

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Maharashtra unveils new EV Policy 2021 

Maharashtra EV Policy 2021 

Maharashtra unveils new EV Policy 2021 

The government of Maharashtra has unveiled its draft Electric Vehicle Policy 2021 for the faster adoption of electric vehicles in India and to achieve a 10 per cent share of total registrations by 2025. Electric vehicles in Maharashtra will attract financial incentives ranging from Rs 10,000 to Rs 20 lakh and the housing societies will get rebates in property tax for setting up charging stations. Read further to know more about Maharashtra EV Policy 2021.

Maharashtra EV Policy 2021 

Maharashtra aims to make up 10 per cent of all new vehicle registrations around three lakh vehicles a year in the state by 2025. The state government has rolled out a Rs 930 crore policy that’s valid till 31 March 2025. It has said that EVs will be exempt from road tax and registration charges.

The government will offer basic and also early bird incentives on the purchase of electric two-wheelers, three-wheelers and four-wheelers. It includes an incentive of Rs 5,000 per kWh of the vehicle battery capacity. For two-wheelers and three-wheelers, the maximum incentive has been capped at Rs 10,000 and Rs 30,000, respectively. For the four-wheelers, the maximum incentive is capped at Rs 1.50 lakh.

Early bird incentive of Rs 15,000 before 31 December 2021

The state will subsidise the first 100,000 electric two-wheeler buyers, who are eligible for an incentive of Rs 5,000 per kWh of battery capacity incentive limit Rs 10,000. It is offering an early bird incentive of up to Rs 15,000 (for an electric-two-wheeler with a 3 kWh battery) for those who purchase the two-wheeler before 31 December 2021. This means if the electric two-wheeler has a battery capacity of close to 3 kWh buyers will be benefitted from Rs 25,000 this year.

Electric scooters price drop 

The prices of the current electric scooters have been reduced, the Ather 450 Plus is currently comes with a price tag of Rs 1.23 lakh and it will be priced around Rs 98,231 for those who will buy it before this year ends. Ather 450X price drop is fall to Rs 1.17 lakh and at current it is Rs 1.42 lakh. Likewise, the price of the Revolt RV400 electric motorcycle’s current price is Rs 1.08 lakh and it reduced to around Rs 83,000.

Scrappage incentive

As the government has waived off the road tax and registration the prices of the electric two-wheelers will be almost similar to the cost of their ex-showroom price. It is also providing a scrappage incentive of Rs 7,000 on offer.

Additional Chief Secretary (Transport) Ashish Singh said “The policy has some ambitious targets. Electric vehicles must comprise at least 10 per cent of total vehicles registered by 2025. We also want to achieve a 25 per cent EV share in public transport in Mumbai, Pune, Nagpur, Aurangabad and Nashik. It includes converting 15 per cent of the MSRTC fleet into EVs by 2025. We also intend to make Maharashtra the top producer of battery-driven EVs in India in terms of annual production capability.”

Also, read related article: Maharashtra new draft EV policy 2021 announced

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