People from all quarters are appreciating and congratulating Maharashtra Environment and Tourism Minister Aaditya Thackeray on the state government's new Electric Vehicle (EV) Policy.
Besides, electric vehicle makers, including Revolt Motors, Ampere Vehicles, Omega Seiki and Mahindra Group, have also welcomed the new Electric Vehicle (EV) Policy, saying the move will lead to faster adoption of these vehicles.
"We're confident that the policy will attract more investments to increase the penetration of EVs in the state," Federation of Indian Chambers of Commerce and Industry (FICCI) president Uday Shankar said in statement. "FICCI hopes there will be more accelerated deployment of charging stations and other eco systems for e-mobility in the future," he added.
RattanIndia-backed EV maker Revolt Motors has also welcomed the new Maharashtra Electric Vehicle Policy, saying its implementation, in addition to the FAME II incentives, will accelerate the process of EV adoption in the state. Moreover, the increased subsidy being offered under the new scheme will make EV motorcycles more affordable and accessible to consumers, Revolt Motors said.
Credit ratings agency ICRA said that given the state's sizeable contribution to overall vehicle sales in India, the policy's allocation towards demand incentive (including early-bird discount) is a major positive.
"The increased subsidy being offered under the new scheme will make EV motorcycles more affordable and accessible to consumers," Revolt Motors said.
"The new Maharashtra EV policy is both progressive and comprehensive in nature. The policy covers all aspects of the EV ecosystem, from charging to making financing simpler. While the fiscal benefits will make EVs affordable, the non-fiscal benefits will help develop the overall EV ecosystem in the state," said Rajesh Jejurikar, executive director (auto and farm sectors) of Mahindra & Mahindra.
Omega Seiki Mobility Chairman Uday Narang said, "This radical step taken by the Maharashtra government to subsidise electric vehicles will provide the much-required stimulus." The Rs 930-crore policy aims to get nearly three lakh new EVs on the road every year by 2025. Besides, the support for setting up charging infrastructure, not just in urban areas but also on highways, will lead to faster adoption of electric vehicles, Narang added.
Here's everything you need to know about the Maharashtra govt's new Electric Vehicle (EV) Policy:
In a bid to support the adoption of sustainable and clean mobility solutions, the Maharashtra government has released a new Electric Vehicle (EV) Policy, which takes care of both the demand and supply side. The objective is to accelerate the adoption of battery electric vehicles (BEVs) in the state so that they contribute to 10 per cent of new vehicle registration by 2025. The policy also aims to roll in 10 per cent of two-wheelers, 20 per cent of three-wheelers and 5 per cent of four-wheelers by 2025. At least 25 per cent of the urban fleet operated by the fleet aggregators/operators in the state will be EVs by 2025.
The policy proposes to achieve 25 per cent electrification of public transport and last-mile delivery vehicles by 2025 in the five-pronged urban agglomeration in the state, convert 15 per cent of Maharashtra State Road Transport Corporation (MSRTC)’s existing bus fleet to electric and make Maharashtra the country’s top producer of BEVs in terms of annual production capacity.
The new policy, which has updated the one announced in 2018, was released by Additional Chief Secretary (Transport) Ashish Singh and state environment minister Aaditya Thackeray and others here.
"The policy has some ambitious targets. Electric vehicles must comprise at least 10 per cent of total vehicles registered by 2025. We also want to achieve 25 per cent EV share in public transport in Mumbai, Pune, Nagpur, Aurangabad and Nashik. It includes converting 15 per cent of the MSRTC fleet into EVs by 2025. We also intend to make Maharashtra the top producer of battery driven EVs in India in terms of annual production capability," Singh said. He said another target laid down in the new policy was to establish one gigawatt of battery manufacturing capability in the state.
Speaking on the occasion, Aaditya Thackeray said the conventional fuel-based passenger vehicle market may be hesitant as engines are getting upgraded in Euro-IV and V models but a major change can be brought about in the public transport sector by tapping MSRTC and civic-run undertakings for the EV initiative.
"The Union government's FAME-II policy and Maharashtra's new EV policy can be combined for greater effectiveness. We are trying to set up EV charging stations in these five major cities though several incentives, with residential and office areas being on the priority list to set up EV charging stations," Thackeray said.
Meanwhile, Singh said the EV policy has proposed that procurement of all new vehicles from April next year would be electric ones, while last mile delivery vehicles in cities such as Mumbai, Pune, Nagpur, Aurangabad, Nashik and Amravati will be EVs by 2025.
"There are plans to set up 2,500 charging stations in Mumbai, Pune, Nagpur, Aurangabad, Nashik, Amravati and Solapur, as well as along four major highways, namely Mumbai-Pune, Mumbai-Nashik, Mumbai-Nagpur and Pune-Nashik," he added.
The official said, under the policy, which will be in force till 2025, electric two-wheelers will get incentives of up to Rs 44,000 while it could be as high as 1.75 lakh for four-wheelers.
Residential societies and homeowners could get property tax rebates if they set up EV charging stations, the official added.
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.
(With PTI and ANI inputs)