Maharashtra EV Policy: Manufacturers Welcome New Policy, Expect Sales Growth

The Maharashtra EV policy sees significant updates from the first draft that was issued in 2018. The aim is to increase penetration and adoption of battery electric vehicles (BEVs) and increase the share of EVs to 10 per cent in new vehicle registrations by 2025. Breaking this down further, the state government aims to electrify 10 per cent of total two-wheeler registrations, 20 per cent of total three-wheeler registrations and 5 per cent of total four-wheeler registrations by 2025. Similarly, the government has set a target of 25 per cent electrification for fleet operators, shared mobility aggregators and for companies who provide last mile connectivity options. The Maharashtra State Road Transport Corporation (MSRTC) aims to convert 15 per cent of its current bus fleet to electric by 2025 as well. Here's what various EV manufacturers had to say about the updated policy.

(Shailesh Chandra, President, Passenger Vehicle Business Unit, Tata Motors, said, that the new EV Policy introduced by Maharashtra govt. shows a strong resolve towards EV adoption)

Shailesh Chandra, President, Passenger Vehicle Business Unit, Tata Motors, said, "We are delighted to see a very enabling EV policy by the Maharashtra Government. It is a welcome move and indeed a very strong resolve shown by the government towards EV adoption. Also, the support extended in increasing charging infrastructure will offer electric vehicle owners a hassle-free commute. This visionary policy will enable a faster transition to EVs."

Also Read: Maharashtra Announces Updated EV Policy

(Sohinder Gill, CEO, Hero Electric and Director General, says that the new Maharashtra EV policy will help in boosting EV adoption in the state)

Commenting on the development, Sohinder Gill, CEO Hero Electric & Director General, SMEV said, "The Maharashtra government policy grants us the privilege to reach out to our potential customer base in the state. With the amendment of FAME 2 by the central government and now the individual state policies like this one have only encouraged the adoption of electric vehicles in India. The added subsidies from the government on batteries and overall vehicles apart from encouraging battery makers to invest in the state will only aid to the growing interest among investors and companies looking to make an entry into the manufacturing of parts for the segment. At Hero, we are looking forward to this new phase of Electric mobility that will be driven with the states and the consumers who are looking up to a green, clean mode of transport."

(Tarun Mehta, Co-Founder and CEO, Ather Energy, said, that the new EV policy drafted by Maharashtra is comprehensive and takes entire EV eco-system into account)

Tarun Mehta, CEO & co-founder Ather Energy, said, "The Maharashtra government's new EV Policy is extremely comprehensive and has taken into account the entire EV ecosystem. The incentives offered for both the demand and supply side will accelerate the adoption and the manufacturing of EVs in the country. In addition to demand incentives, the policy also incentivises buy-back, and vehicle scrappage. Early bird incentive is a great mechanism to jump start things, as well as to drive festive sales. Ather Energy is geared to cater to the rising demand in Maharashtra through its retail outlets in key cities like Mumbai, Pune and plans to expand to Nashik and Nagpur soon. Such progressive policies introduced by the state governments have the potential to drive faster adoption of electric vehicles in the country."

(Naveen Munjal, Managing Director, Hero Electric believes the new EV policy makes EVs an attractive option in the state of Maharashtra))

Naveen Munjal, MD, Hero Electric said, "With the announcement of revised EV policy by the state of Maharashtra, we expect the shift towards EV mobility in the country to gain more traction in the coming few days. The policy that aims to convert 10% of their overall EVs by 2025 and install 1500 charging station across the state, will only make EVs an attractive option for mobility in the state. Hero Electric is committed towards such initiatives and we are elated to further expand our reach with government support. We are extremely bullish about achieving our targets of 1 million scooters on road over the next few years."

(Uday Narang, Chairman, Omega Seiki Mobility, says, the new policy will convince people to adopt EVs)

Uday Narang, Chairman, Omega Seiki Mobility said "I would like to congratulate and thank the Government of Maharashtra for announcing an ambitious electric vehicle policy. This radical step taken by the Maharashtra Govt. to subsidise electric vehicles will provide the much-required stimulus. The Rs. 930 crore policy aims to get nearly 3 lakh new EVs on the road every year by 2025. That is not all. The new policy will also help create estimated 1 lakh new jobs. Besides, the support for setting up a charging infrastructure, not just in urban areas but also on highways, will lead to faster adoption of electric vehicles. I hope more and more states follow Maharashtra's lead and bring out similar incentives and pave the way to make India the Number 1 EV maker."

(Nagesh Basavanhalli, MD & CEO, Greaves Cotton, believes that the new EV policy will be a greater enabler of clean and green mobility in the state of Maharashtra)

Nagesh Basavanhalli, MD & Group CEO, Greaves Cotton, and Director, Ampere Vehicles, said, "The EV policy announced by the Maharashtra Govt. will be a great enabler of clean and green mobility. This will not only boost the growth of electric vehicles but will also provide employment at various levels and give impetus to the setting up of charging infrastructure. This coincides with Ampere's ambition of expanding in the state and ensuring easy accessibility of an affordable range. With Greaves Retail outlets and Ampere showroom dealerships across the state, we appreciate this initiative."