Maharashtra govt boost to electric vehicles

Stressing the use of electric vehicles as mode of mass transport, the policy aims to attract an investment of Rs25,000 crore and create one lakh jobs in the next five years.

With an aim to promote manufacturing and use of electric vehicles in the state, the Maharashtra government has unveiled an electric vehicles industry policy. Apart from incentives and aid to manufacturing companies, the policy proposes to give benefits to consumers.

Under the policy, the state has given subsidy of 15% of the total price of electric vehicles to buyers. (FILE)

Stressing the use of electric vehicles as mode of mass transport, the policy aims to attract an investment of Rs25,000 crore and create one lakh jobs in the next five years.

Under the policy, the state has given subsidy of 15% of the total price of electric vehicles to buyers. Moreover, to bring down the retail price of electric vehicles, the policy has stated that Electric vehicles will be exempt from road tax and registration fees.

Sunil Porwal, principal secretary, industries department, said these vehicles are costlier than the conventional ones and therefore to push its sales and create a demand, the state government introduced a 15% incentive on the registered electric vehicle’s original cost. “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 cost of the vehicles so that the demand is created. In the next 10 years, we will spend Rs2,800 crore on this,” Porwal said.

According to 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 Rs10 lakh a charging station. The electricity for charging electric vehicles will be charged at residential rates, the policy stated.

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.

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