Maharashtra EV Policy 2021 to accelerate green shift

Maharashtra EV Policy 2021

Indian Market
Last Updated: 2022-12-11T04:48:19+05:30

When there is a major shift, it is normally the financial capital that is expected to take the initiative. Maharashtra took the lead and unveiled the Maharashtra EV Policy 2021 with the intent of fast tracking EV adoption in an accelerated move away from fossil fuels. By 2025, the state of Maharashtra will overhaul the private and public transport infrastructure to ensure at least 10% EV adoption. For fleet aggregators, ecommerce companies and logistics operators; EV adoption is targeted at 25% by 2025.

The EV roadmap is aggressive and interesting. EV adoption needs supporting infrastructure. The EV Policy targets 1500 charging stations across Mumbai Metropolitan region. In addition, there will be 500 charging stations in Pune, 150 in Nashik and another 225 across Aurangabad, Amravati and Solapur. All state highways are targeted to be EV-ready by 2025 and vehicles of all state government officials will shift to EVs by 2022. The target is 25% electrification of intra-city fleets and 15% electrification for the MSRTC fleet by 2025.

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The big focus will be fast tracking electrification of two-wheelers with EV incentives for purchase of 100,000 two-wheelers. E2W manufacturers will get an incentive of Rs.12,000 for offering 5-year warranty on batteries with guaranteed buyback scheme. The total incentives will amount to a discount of Rs.37,000 per two-wheeler and with scrappage incentives, it will add up to Rs.44,000; sufficient to offset higher cost of EVs. In the case of 4-wheelers, the total of early bird discounts, basic incentives and scrappage incentives can add up to Rs.2.75 lakhs per car. Road tax on EVs has also been waived. In short, it is a great start and it is now over to implementation.

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