Maharashtra announces sops up to Rs 20 lakh for electric vehicles

.Maharashtra Government Announces Financial Incentives For Electric.Vehicles.Benefits Offered To Electric Vehicles By Government Of Maharashtra.1 min


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 percent of all commercial cars, 30 percent of private cars, 40 percent of buses, and 80 percent of two-wheelers and three-wheelers 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 EVs to make up 10% of all new vehicle registrations by 2025. Targets have also been set for each individual category: two-wheelers (10 percent), four-wheelers (5 percent). 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

  • The 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.

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