New Maharashtra EV Policy & Subsidy — Electric Vehicles Incentives Up To Rs 2.75 Lakh

Maharashtra announces a new electric vehicle policy with increased incentives for EV buyers in the state. The government is offering up to Rs 2.75 lakh incentives for purchases made within this year.

The new EV policy is aimed at faster adoption of electric vehicles in the state. The incentives are also being awarded for charging infrastructure as well. Another amendment announced in the policy is that all new government vehicles in Maharashtra will be EVs from April 2022.

Electric Vehicle Incentives In Maharastra

Two-Wheelers
Buyers receive incentives of up to Rs 44,000 if purchased before December 31, 2021. This includes:

  • Rs 10,000 basic incentives
  • Rs 15,000 early bird incentives
  • Rs 12,000 Electric battery warranty & buyback
  • Rs 7,000 scrappage incentive

However, if the electric two-wheeler is purchased after 2021, then the maximum incentive is reduced to Rs 29,000. The incentives are awarded to two-wheelers with a minimum battery capacity of 3kWh

Three-Wheelers
Buyers receive incentives of up to Rs 92,000 if purchased before December 31, 2021. This includes:

  • Rs 30,000 basic incentives
  • Rs 35,000 early bird incentives
  • Rs 12,000 Electric battery warranty & buyback
  • Rs 15,000 scrappage incentive

However, if the electric three-wheeler is purchased after 2021, then the maximum incentive is reduced to Rs 57,000. The incentives are awarded to three-wheelers with a minimum battery capacity of 7kWh

Four-Wheelers
Buyers receive incentives of up to Rs 2.75 lakh if purchased before December 31, 2021. This includes:

  • Rs 1.5 lakh basic incentives
  • Rs 1 lakh early bird incentives
  • Rs 25,000 scrappage incentive

However, if the electric four-wheeler is purchased after 2021, then the maximum incentive is reduced to Rs 1.75 lakh. The incentives are awarded to four-wheelers with a minimum battery capacity of 30kWh.

Electric Charging Station Incentives In Maharastra

The state government announced that it aims to set up over 2,500 charging stations in 7 major cities across the state. This includes Mumbai, Pune, Nagpur, Aurangabad, Nashik, Amravati and Solapur.

Additionally, important highways such as Mumbai-Pune, Mumbai-Nashik, Mumbai-Nagpur and Pune-Nashik will also be getting charging stations to support inter-city travel in EVs.

Slow charging units will be incentivised by up to Rs 10,000, while the fast chargers will get up to Rs 5 lakh. The government also announced that residential owners for installing private charging infrastructure will also be getting property tax rebates.

All these incentives are over the FAME 2 incentives provided by the Government of India.

Regarding the incentives for EV manufacturers in Maharashtra, the policy states that "all the benefits under 'D+' category of mega projects will be provided to these industries irrespective of the location of manufacturing unit in the state. This incentive will be applicable from the date of notification of policy and will be disbursed through the Industries, Energy and Labour Department".

Thoughts About The Electric Vehicles Incentives In Maharastra

The entire nation is gunning for faster adoption of EVs in the country. Additionally, the state governments are now adding more value by heavily incentivising the purchase of electric vehicles and benefit early adopters. Maharashtra's new EV policy is a comprehensive plan to achieve its target of 10 per cent EV registration by 2025.

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Read more on: #auto news
Article Published On: Wednesday, July 14, 2021, 8:49 [IST]
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