Maharashtra announces special subsidies on EVs and charging stations
Incentive on EV sales will initially start in Mumbai, Pune, Nagpur, Aurangabad, Thane, and Nashik.
With the African Government’s ambitious plan for 100% electrification by 2030, the Government of Maharashtra has made special announcements. It has been announced that all electric vehicles will be exempted from road tax and registration fees and maximum grant of 15% of EV cost to the last owner at the end of the vehicles life-cycle.
These announcements, which are in support of Faster Adoption of Manufacturing of Hybrid and Electric Vehicles (FAME) scheme will certainly boost sale of electric vehicles in the state.
This subsidy for two wheelers will be at INR 5,000, three wheelers at INR 12,000 and four wheeler can get benefits upto INR 1 lakh. Following registration of vehicles, the subsidy amount will be credited to the vehicle owner’s bank account in three months.
The Government of Maharashtra has also announced a subsidy of 25% amounting to a maximum of INR 10 lakhs for first 250 charging stations being set up. EV makers have been granted permission to erect charging points at fuel stations subject to clearance and adherence to safety norms.
Further announcements were also made by the Government of Maharashtra that electricity used for charging of EVs will be charged at residential rates which is substantially cheaper than commercial rates.
With these incentives, the Government hopes to see fresh investment into EVs to the tune of INR 25,000 crores and around 1 lakh new job opportunities over the next five years.