Potential electric vehicle (EV) buyers in the state can now avail of higher subsidies which were announced on July 15, 2021.
The Maharashtra government has finally made the revised Maharashtra electric vehicle (EV) policy of 2021 live. This means that potential EV buyers will be able to avail of higher subsidies, which includes the base incentive as well as additional incentive. In a new notification, the state government has outlined the subsidy claim process for EV manufacturers. The policy also exempts all EVs sold in the state from road tax, as well as registration charges. With the subsidies going live, electric two-wheelers will have some of the lowest prices in Maharashtra.
Electric two-wheelers will benefit from the largest share of incentives as part of the revised Maharashtra EV Policy 2021. The government expects electric two-wheelers to make up a considerable part of all new vehicle registrations in the state by 2025. The state will offer subsidies for the first 1,00,000 electric two-wheeler buyers who are eligible for an incentive of ₹ 5,000 per kWh of battery capacity. In fact, the incentive limit has been capped at ₹ 10,000, which is twice the previous cap of ₹ 5,000. According to Ather Energy CEO Tarun Mehta, prices of the Ather 450 and the Ather 450 X electric scooters will be the lowest in Maharashtra, due to the new state EV policy going live.
EV subsidies finally are going live in Maharasthra.
Prices of 450+ come down by ~24K and is now priced at 1.03L in the state, lowest in the country today.
Honestly, 450+ at a price lower than several 125cc scooters is a bonkers pricing!
— Tarun Mehta (@tarunsmehta) September 13, 2021
Under the new Maharashtra EV policy, there will be a base incentive of ₹ 5,000 per kWh of battery capacity for electric vehicles, which is similar to that of two-wheelers. The maximum incentive for electric vehicles (four-wheelers) is capped at ₹ 1.5 lakh, and the minimum incentive for electric two-wheelers is capped at ₹ 10,000. The new policy and subsidies will benefit most electric two-wheeler manufacturers, including Ather Energy, Ola Electric, Okinawa Autotech, Revolt Motors and even Revolt Motors, although Revolt is currently not taking orders for the Revolt RV 400 electric motorcycle.