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Maharashtra government announces incentives for electric vehicles

February 17, 2018, 03:13 PM IST by Nikhil Puthran
Maharashtra government announces incentives for electric vehicles

Promoting sales for electric vehicles (EVs) has been on the government agenda for a while now, where it aims to achieve 100 per cent electrification by 2030. Taking a positive step and supporting the Faster Adoption of Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, the Maharashtra government has announced lucrative incentive schemes for EVs.

Apart from exemption of road tax and registration fees, under the new policy the state will offer a subsidy of 15 per cent on the total price of the vehicle to the first one lakh electric vehicles registered in the state. However, the policy also has a capping limit with regards to maximum subsidy which can be given to a vehicle. Two wheelers in the state can avail maximum subsidy of Rs 5,000, three-wheelers have been limited to Rs 12,000, while four-wheelers can avail benefits of up to Rs 1 lakh. Post registration, the subsidy amount will be reverted to the vehicle owner’s bank account in about three months.

Additionally, the Maharashtra government will also offer 25 per cent subsidy amounting to a maximum of Rs 10 lakhs to first 250 charging stations to be set up in the state. Electric vehicle manufacturers can also install charging points at fuel stations after getting clearance and complying with safety norms. The new charging stations can avail electricity at non-commercial rates. The incentives for EVs will be offered in a phased manner in places likes Mumbai, Thane, Nashik, Nagpur, Pune and Aurangabad.

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