Highlights of Maharashtra EV Policy (2018) – Incentives, Subsidies, Exemptions of Electric Vehicle Policy
Devising Your EV Strategy: White Paper from EAI.
- The Maharashtra state government cabinet has given its nod to the state’s Electric Vehicle Policy 2018.
- A notificationissued by the state government stated that all three segments of the electric vehicle (EV) sector – manufacturing, creation of infrastructure, and consumers – are accounted for in the policy.
- The policy aims at creating an enabling environment for the manufacture of 500,000 EVs in the state within the next five years. In it, the state government proposes exempting e-vehicles from road tax and registration charges in Maharashtra.
- A 15 percent subsidy will also be provided to the owners of the first 100,000 EVs registered in the state. In India, the EV category includes e-cars, e-buses, e‑scooters, e-rickshaws, and other two-wheelers that can run on electricity.
- To create suitable infrastructure, the state government is also working to ensure the development of charging stations by proposing to provide a maximum subsidy of Rs. 1 million (~$15,549) per charging station to the first 250 stations that are set up in Maharashtra.
- The state government also announced various other subsidies designed to encourage more consumers to adopt EVs. For two-wheelers, the subsidy provided would be Rs. 5,000 (~$78), for three-wheelers it would be Rs. 12,000 (~$187), and up to Rs. 0.1 million (~$1,556) for four-wheelers.
- 50-100 percent reimbursement of stamp duties on land and loan agreements to makers of electric vehicles.
- Refund of State GST if the car is sold within the state.
- Incentives to the component and battery makers.
- A subsidy of 25 percent or Rs. 10 lakh, whichever is less, on the first 250 charging stations that will be set up near bus depots, petrol pumps and public parking spots.
- For buyers, it offers a subsidy up to Rs. 1 lakh on cars, Rs. 5,000 on two-wheelers, Rs. 12,000 on three-wheelers and Rs. 10 lakh on buses. It will be transferred to a buyer’s accounts within three months.
- Exemption from road tax and registration fees.
Comprehensive Inputs on Indian EV Ecosystem
Check out the following sections for comprehensive inputs on Indian EV ecosystem (click on each section for more details)
100s of Solar Questions Answered @ Ask Solar Mango - Read More