Electric Vehicle Incentives Announced: Maharashtra Government

Government’s plan to achieve 100 percent electrification by 2030 has brought Electric Vehicles (EVs) in the talks. Supporting the Faster Adoption of Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, the Government of Maharashtra has moved a step further to incentivize EVs to push its sales in the state.

Under the scheme, the State government has not only exempted EVs from road tax and registration fees but also will give a maximum grant of 15 percent of the EV’s cost to the last owner at the end of the vehicle’s lifecycle.

The government has also laid down a policy to set up a charging infrastructure in the state. The first 250 charging stations will get capital subsidy of 25% with a maximum limit of Rs. 10 lakh per charging station. In all, the government plans to spend Rs. 2,800 crore on setting up charging infrastructure in the state over the next 10 years.

The state government has also announced that the electricity used for charging EVs will be charged at residential rates, which will be considerably cheaper than commercial rates.

According to senior industries department official, automobile companies such Mahindra and Mahindra, Tata and even JSW Steel are looking at manufacturing of electric vehicles in the coming years and hence the policy will help them.

The state government will, initially, start with Mumbai, Pune, Nagpur, Aurangabad, Thane, and Nashik to incentivise the EV sales.

Source: Hindustan Times

A group of tech enthusiasts who are tracking latest developments in CleanTech with special focus on Energy Storage and Electric Mobility

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A group of tech enthusiasts who are tracking latest developments in CleanTech with special focus on Energy Storage and Electric Mobility

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