Maharashtra EV policy aims 10% electrification of vehicle fleet

Jul 14 2021 11:00 AM
Maharashtra EV policy aims 10% electrification of vehicle fleet

Maharashtra government decides to revise EV policy with worth ₹930 crore investment. Under the newly announced electric vehicle policy, the state government aims to electrify 10% of the new vehicle fleet by 2025.

The authorities suggest to 25% electrification in public transport and last-mile delivery vehicles under this policy. This will be done in the five targeted urban agglomerations with this revised Ev policy boost in demand for electric vehicles and improve supply as well through incentives. It will be valid till 31st March 2025. The state government hopes incentivizing the production will encourage the automakers to focus on EV manufacturing. At least 10% of two-wheelers, 20% of three-wheelers and 5% of four-wheelers to be electric vehicles by 2025 will get this policy good run. The policy will subsidise the first 100,000 electric two-wheelers. The buyers of these 100,000 e-2Ws will be eligible to receive an incentive of ₹5,000 per kWh of battery capacity up to ₹10,000. The maximum threshold of the incentives has been increased from ₹5,000. Not only this but buyers then will be eligible to receive a total benefit of ₹25,000 for the electric two-wheelers if purchased this year and if it comes with a 3 kWh battery pack.

Maharashtra Government EV policy will accelerate the adoption of BEVs in the state. The policy not only aims hard at promoting electric vehicle production and sales, but also emphasises the requirement of batteries for EVs. It aims to set up at least one Gigafactory for manufacturing advanced chemistry cell batteries. The revised Maharashtra EV policy comes just a month after the Gujarat government introduced its own EV policy in June 2021.

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