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Maharashtra EV policy

The new EV policy introduced in Maharashtra is a revision of the 2018 policy. (Photo: Pixabay)

How Maharashtra EV policy will benefit electric car buyers

The Maharashtra govt has launched the new Electric Vehicle Policy -2021. The policy announced by the State Environment Minister, Aaditya Thackeray aims to accelerate the adoption of Battery Electric Vehicles in the country.

What is Maharashtra new EV policy?

The new EV policy introduced in Maharashtra is a revision of the 2018 policy. Maharashtra government has announced its revised electric vehicle policy on Tuesday. The updated EV policy is expected to boost the adoption of green vehicles in the state. The ₹930 crore worth policy focuses on a two-pronged approach to promote electric mobility in the state.

No road tax and registration charges

All new electric cars sold in Maharashtra will now be exempted from road tax and registration charges, which will substantially reduce their on-road prices. 

The new policy also aims for electric vehicles (EVs) to make up 10 per cent of all new vehicle registrations, by 2025.

Charging stations in Mumbai

It also targets to have around 1,500 charging stations in Mumbai itself by 2025 along with converting 15% of MSRTC buses to electric.

High Incentives

As per the notification, the state government will give demand and supply side incentives to generate demand and incentivize production of such vehicles. Incentives will also be given for setting up advanced chemistry cell battery manufacturing plants. It also targets setting up 1 giga watt battery manufacturing plant in Maharashtra.

Incentives will be given to buyers of electric vehicles, under the new EV policy. Thus, those purchasing two-wheelers will be given an incentive of Rs 10,000, for three-wheeler the incentive will be Rs 30,000, for four-wheelers, an incentive of Rs 1,50,000 and Rs 20 lakh incentive will be given for e-buses.

The FAME (Faster Adoption & Manufacturing of Electric Vehicles) scheme was announced in 2019 to incentivize the purchase of E-vehicles in the country. Recently, the Union government announced the extension of the second phase of the FAME scheme by two years, until March 31, 2024.

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