The Maharashtra Government has set an example for other states by making EVs tax-free. It has also provided substantial incentives for the development of charging infrastructure throughout the state. The new policy will be beneficial to both end consumers and manufacturers and will certainly fuel the EV push the country is witnessing right now. Here’s what it packs.
Maharashtra Electric Vehicle Policy 2018
- EVs exempted from road tax and registration fees
- For the first 1 lakh EV registrations, the last owner will get up to 15 per cent of the vehicle’s cost as a grant at the end of lifecycle
- First 250 charging stations to get 25 per cent subsidiary – up to Rs 10 lakh per stations – from the Government
- The Government has allowed EV manufacturers to set up charging stations at various petrol pumps in the country post safety clearance
- The electricity rates for these charging stations will be at par with residential rates, which are substantially lower than commercial ones
- Policy implementation will first kick start in Mumbai, Pune, Nagpur, Thane, Aurangabad and Nashik
Speaking of the EV space, buyers will get more options later this year as we will witness the launch of the Tata Tigor and the Tiago EV, which were showcased at the Auto Expo 2018. Further, Hyundai is also planning to launch the Kona EV next year. And by 2020, the country’s largest automaker, Maruti Suzuki, will launch its first ever made-in-India EV in the market.