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Understanding Maharashtra EV Policy, Incentives of Upto Rs 2.75 Lakh on Electric Vehicles

Image for representation. (Image source: Reuters)

Image for representation. (Image source: Reuters)

The suggested incentives would be granted to vehicle manufacturers depending on the number of cars registered in Maharashtra, in addition to FAME II benefits.

The world is moving a step closer to an all EV ecosystem as Maharashtra unveils a comprehensive EV policy for 2021. This policy will accelerate both the adoption of electric vehicles in the state as well as make it a major leading manufacturer and investment hub for the EV ecosystem in the world. Pertaining to the policy, Maharashtra state government offers both basic as well as early bird incentives on the purchase of electric vehicles.

The maximum benefit for two-wheelers and three-wheelers has been set at Rs 10,000 and Rs 30,000, respectively. Similarly, the highest incentive for four-wheelers is Rs 1.50 lakh. Customers will also be entitled to early bird discounts if they purchase an automobile before December 31, 2021.

The goal is for 10% of all new vehicle sales to be EVs by 2025. Maharashtra is aiming for 25% electrification of public transportation and last-mile delivery trucks by 2025 in six metropolitan cities: Mumbai, Pune, Nagpur, Aurangabad, Amravati, and Nashik. In addition, starting in April 2022, all new government cars in Maharashtra will be EVs.

The EV policy outlines the state government's strategy for expediting and ensuring timely registration of EVs, including EV fleets operated by aggregators, last-mile delivery companies, logistics players, and others. According to the Motor Vehicle Aggregator Guideline 2020 released by the Ministry of Road Transport and Highways, the policy would promote fleet aggregators to run electric cars.

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The state government also intends to rapidly expand EV charging infrastructure, with an estimated 2,500 charge stations in 7 major metropolitan cities as well as 4 key roads.

Slow chargers (15,000 units) would be eligible for incentives of up to Rs 10,000 per charger, while fast chargers (500 units) would be eligible for incentives of up to Rs 5,00,000 per charger. According to the official paper, “urban local governments will be encouraged to grant property tax credits to household owners for the installation of private charging infrastructure inside their premises.” ULBs/PWDs/MSRDCs will determine where charging infrastructure will be installed.

The suggested incentives would be granted to vehicle manufacturers depending on the number of cars registered in Maharashtra, in addition to FAME II benefits.

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first published:July 14, 2021, 15:03 IST