This State Gives Rs 20 Lakh Incentive For Buying Electric Vehicles! Societies To Get Charging Points

The government of India is always coming up with new initiatives and schemes to promote the use of electric vehicles. In fact, the Indian government has set an aim of 70 per cent of all commercial cars, 30 per cent of private cars, 40 per cent of buses, and 80 per cent of two-wheelers and three-wheelers in to be electric by 2030. 

Here’s another initiative by the state government of Maharashtra: Electric vehicles in Maharashtra will come with financial incentives between the amount of Rs 10,000 to Rs 20 lakh.

Additionally, housing societies will also be given rebates in property tax for setting up charging stations. 

Maharashtra Government Announces Financial Incentives For Electric Vehicles

As announced by the state government in its electric vehicle policy, SOPs will be offered for new purchases, scrappage and manufacturing of e-vehicles, components and batteries.

The government aims for the EVs to make up 10% of all new vehicle registrations by 2025. Targets have also been set for each individual category: two-wheelers (10 per cent), four-wheelers (5 per cent). Also, 15% of the state transport buses will be converted to electric by 2025. 

Sohinder Gill, Director General, Society of Manufacturers of Electric Vehicles (SMEV) has stated that this decision by the government is encouraging for the EV industry and also cements India’s vision of becoming a global EV hub.

He said, “We hold steadfast optimism towards states announcing a revised policy with a special focus on demand creation. An inclusive and pragmatic approach to E-mobility and charging infrastructure is imperative to boost innovation and increase uptake among consumers.”

Benefits Offered To Electric Vehicles By Government Of Maharashtra

Maharashtra is not the first state to implement such schemes to push electric vehicles, Delhi, Gujarat, Karnataka and Tamil Nadu have also previously encouraged electric vehicles. Apparently, as per state environment minister Aditya Thackeray, the Maharashtra govt has studied the EV policies of other states and countries before finalizing on its own.

Benefits for Electric Vehicles in the new policy:

• All the EVs in the state to be exempted from road tax and registration charges.
• Maximum incentive of Rs. 10,000 to Rs 1.5 lakh for electric two-wheelers and cars 
• Buses to be eligible for incentives worth Rs. 20 lakh.
• Urban local bodies will be encouraged to give a rebate in property tax to the housing societies that will set up charging stations and also promote the manufacturing of vehicle batteries under the PLI scheme of central government.