Electric Vehicles

Up to INR 2.75 lakh incentive on EVs in Maharashtra

Written by Nizam Shaikh

The Government of Maharashtra has introduced new electric vehicle policies for 2021. The state government is employing various incentives to help accelerate the adoption of electric vehicles in Maharashtra. This will not only lead to sales of electric vehicles but also attract electric vehicle manufacturers to invest in the state. The aim is to achieve 10% registration of electric vehicles by 2025.

Maharashtra’s New Electric Vehicle Policy

The Government of Maharashtra has introduced various incentives for EVs. These include early bird incentives, basic incentives, assured buyback and battery warranty incentives, and scrappage incentives. The state will be providing INR 5,000 per kWh as early bird incentives on the purchase of electric vehicles before 31st December 2021. Post this deadline the offer will be withdrawn automatically increasing the prices of the EV. This will encourage more customers to buy electric vehicles accelerating electric vehicle adoption.

Basic Incentives

The government will also provide a maximum of INR 10,000 of basic inventive for electric two-wheelers. The cap for electric three-wheelers is INR 35,000 and INR 1.5 lakh for electric four-wheelers up to 31st December. Post which the basic incentive will be reduced to INR 1 lakh and the early bird offer for four-wheelers which is capped at INR 1 lakh will be removed.

Other Incentives

Two and three-wheel electric vehicles will also receive an additional INR 12,000 incentive if the brand offers assured buyback & battery warranty. The state is also offering incentives on electric vehicles purchased post scrapping their old vehicle. Electric two-wheelers receive a scrappage incentive of INR 7,000, electric three-wheelers receive a scrappage incentive of INR 15,000 and electric four-wheelers receive a scrappage incentive of INR 25,000.

Total Incentives

Electric Two-Wheelers in Maharashtra will get a total incentive of INR 44,000 before the 31st December deadline and INR 29,000 in the next year. The Electric Three-Wheelers get a total incentive of INR 92,000 with the early bird offer and INR 57,000 post 31st December deadline. Electric cars come with a whopping discount of INR 2.75 lakh with the early bird scheme and INR 1.75 lakh without the early bird discount.

Property Tax Rebates

The state also plans to provide property tax rebates to residential owners for installing private charging infrastructure within their premises. The target is to fast track sales of electric vehicles in Mumbai, Pune, Nashik, Nagpur, Aurangabad and Amravati. The government also plans to employ electric vehicles for government use in Maharashtra.

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