After Delhi, Gujarat and Maharashtra, Rajasthan Announces Subsidies For EVs

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After Maharashtra, Gujrat and Delhi, Rajasthan has announced policies for EVs to push their demand. The policy states that the consumers who purchase an EV between April 2021 and March 2022 will get a GST refund. Over the refund, consumers of electric two and three wheelers will get additional cash subsidy ranging between ₹5,000 and ₹20,000 depending on the size of the battery. The electric two wheelers will receive cash benefits between ₹5,000 and ₹10,000 depending on the battery capacity between 2kWh and over 5kWh. Electric three-wheelers on the other hand will be eligible for cash benefits between ₹10,000 and ₹20,000 depending on the battery capacity between 3kWh and more than 5kWh.

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The two and three wheeler EV market has been the most dominating one due to increased buyer’s preference for personal vehicles and rising fuel prices which has driven up the demand for EVs. Electric three wheelers are becoming popular among businesses for fleet operations, e- commerce deliveries and last-mile delivery providers. Rajasthan aims to boost the sales of EVs in these two segments. Unlike other states, Rajasthan government will not provide any cash subsidies for electric cars or buses. Also, the EV subsidy for two and three wheelers is lower than Maharashtra, Gujrat and Delhi. Over the past few months, the state and central governments have been announcing their respective EV policies to promote electric mobility. Recently, Maharashtra had unveiled its EV policy.

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The government aims at 10% of newly registered vehicles in its major cities to be electric ones by 2025. It also targets to have around 1,500 charging stations in Mumbai itself by 2025 along with converting 15% of MSRTC buses to electric. The Maharashtra EV Policy 2021 will provide incentives of ₹5,000 per kilowatt-hour of battery capacity to buyers of all types of electric vehicles. The subsidy will be directly transferred to the beneficiaries within 30 days. For two-wheelers and three-wheelers, the maximum incentive has been capped at ₹10,000 and ₹30,000, respectively. Meanwhile, for four-wheelers, the maximum incentive is capped at ₹1.50 lakh. Buyers will also be eligible for early bird incentives (on purchase of vehicle before 31st December 2021) and several other benefits Also, all-electric vehicles will be exempted from road tax and registration charges, the notification stated. Additionally, Maharashtra has also rolled out scrapping incentives.

 

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