Maharashtra Govt Unveils New Electric Vehicle Policy, Targets 10% New Vehicle Registrations by 2025

Mumbai, July 13: Setting an ambitious target of 10 per cent for all battery electric vehicles (BEV) registrations by 2025, the Maharashtra government on Tuesday unveiled its new Electric Vehicle Policy (EVP) with a slew of incentives and attractions for the customers. The EVP was released by Environment Minister Aditya Thackeray, along with Minister of State for Environment Sanjay Bansode and other top officials, in a bid to support sustainable and clean mobility solutions in tune with the Centre's directives.

Targetting 10 per cent of EVs in new vehicle registrations, which would be 10 per cent of two-wheelers, 20 per cent three-wheelers and 5 per cent four-wheelers, the policy hopes that at least 25 per cent of the urban fleet operated by fleet operators/aggregators will transition to EVs, comprising e-com companies, last mile operators, logistic players and mobility aggregators in the urban centres. Delhi Aims To Become Electric Vehicle Capital of India, Here’s a List of 72 Public EV Charging Stations in National Capital.

In the five targetted urban centres, the government aims at 25 per cent electrification of public transports and converting 15 per cent of the existing fleet of Maharashtra State Road Transport Corporation to EVs by 2025.

The state hopes to become the country's top producer of BEVs in terms of annual production capacity, set up an EV fund and form a state EV secretariat to monitor the progress of policy implementation on a day-to-day basis.

The government has also set city-wise targets of public and semi-public charging stations on all roads including the highways, and plans to establish at least one Giga factory for manufacturing advanced chemistry cell batteries, promote research and development, and innovation and skill development encompassing the entire EV ecosystem.

The major incentives being offered include people opting for EVs, except e-buses, before December 31, 2021 becoming eligible for maximum discount of up to Rs 100,000 on vehicle battery as per the kWh capacity.

For EVs sold without battery, 50 per cent of the incentive will be given to the vehicle's original equipment manufacturer and the rest to the battery swapping energy operator.

All EVs shall be exempted from road tax and feels for issue or renewal of registration certificate and other scrappage incentives, while banks and FIIs will offer preferential interest rates to EV customers in segments like e-autos, goods vehicles or cabs, besides incentives or charging stations.

On the supply side, all benefits under the D-Plus category of mega projects/other categories will be extended to the industries engaged in EV component manufacturing, vehicle assembly, battery assembly, cell manufacturing, recycling of EVs and EV batteries, irrespective of the location of the manufacturing unit in the state.

(The above story first appeared on LatestLY on Jul 13, 2021 11:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).