Planning to switch over to an electric vehicle? The Government of Maharashtra is giving you all the more reasons to do so!
On Tuesday, the State Cabinet, in a move to encourage citizens at all levels to adopt the eco-friendly mode of transport approved its electric vehicles Policy.
Under the policy, the state’s industries department will offer a host of benefits to all stakeholders involved in the manufacturing, creation of infrastructure and sale (consumers) of e-vehicles.
“We are looking to give incentives at the manufacturing level as well as at the consumer level to create a buying atmosphere for these vehicles,” a senior official from the industries department told the Times of India.
Highlights of the policy:
Since the manufacturing as well as selling cost of these green vehicles are higher than their conventional counterparts, as per the policy, the state will offer a subsidy of 15% on the total price to buyers of the first one lakh vehicles registered in the state.
While the tax refund cap for two-wheelers is Rs 5000, the cap for three-wheelers is fixed at Rs 12,000 and four-wheelers, go up to Rs 1 lakh.
This tax rebate will be reverted in the account of the person in whose name the vehicle is registered in three months from the date of purchase, reports the Times of India.
To significantly strike down the market price of these electric vehicles, the policy will also exempt the green vehicles from road tax and registration fees.
Speaking to the Hindustan Times, Sunil Porwal, principal secretary of industries department, said, “With the policy, we are trying to help the whole cycle of manufacturing—vehicle manufacturing, components, batteries, and charging equipment. Then creating charging infrastructure and ultimately, helping the consumer by subsidising the cost of the vehicles so that the demand is created. In the next ten years, we will spend Rs 2,800 crore on this.”
Read more: Your Next Car Should Be an Electric Car, and Here’s Why and How It Will Happen
One of the major issues manufacturers of e-vehicles are facing is the lack of Charging Stations across the state. To help tackle this, the electricity rates for these charging stations to be set up will be similar to the electricity rates in residential areas.
The policy will also allow green vehicle companies to set up charging stations at petrol pumps if they guarantee that all required safety rules are adhered to.
The government will also provide companies willing to set up charging stations in the state subsidies too.
As per the policy, the first 250 charging stations for two-wheelers, three-wheelers, light commercial vehicles and buses will get a 25% capital subsidy, with a maximum limit of Rs 10 lakh per charging station.
The aim of the policy is to attract an investment of Rs 25,000 crore and create one lakh jobs in the next five years, reports the Hindustan Times.
The policy is a part of the government’s mission to switch to the electric vehicles grid by 2030.
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