Maharashtra Government Introduces Incentive Scheme For Electric Vehicles

| February 19 , 2018 , 19:31 IST

Promoting sales of electric vehicles has been the Central Government agenda to achieve 100 percent electrification by 2030. The State Government, as part of the Faster Adoption of Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, has announced its electric vehicle policy for a better environment in the state.

As part of the new policy, Electric vehicle buyers will receive a subsidy of 15 percent on the total price of the vehicle from the state. However, this will be limited to the first one lakh electric vehicles that are registered in the state only. Besides this, the Government had already stated that electric vehicles will be exempt from road tax and registration fees.

The Government has also laid down a policy to set up a charging infrastructure in the state. The first 250 charging stations will get the capital subsidy of 25 percent with a maximum limit of Rs. 10 lakh per station. The first phase will be implemented in Mumbai, Pune, Nagpur, Thane, Aurangabad and Nasik.

The State Government has also announced a good news for prospective vehicle holders that the electricity used for electric vehicles will be considerably cheaper than commercial rates and the policy aims to attract investment of Twenty five thousand crore and create one lakh jobs for the next five years.