Maharashtra EV Policy Goes Live; Electric Two-Wheelers To Become More Affordable

The Maharashtra government has finally made the revised Maharashtra electric vehicle (EV) policy of 2021 live. This means that potential EV buyers will be able to avail of higher subsidies, which includes the base incentive as well as additional incentive. In a new notification, the state government has outlined the subsidy claim process for EV manufacturers. The policy also exempts all EVs sold in the state from road tax, as well as registration charges. With the subsidies going live, electric two-wheelers will have some of the lowest prices in Maharashtra.

Also Read: EV Manufacturers Welcome Maharashtra EV Policy

Established players like Ather Energy, as well as new brands like Ola Electric will gain a lot from the subsidies announced by the state government as part of the new state EV policy which has gone live.

Electric two-wheelers will benefit from the largest share of incentives as part of the revised Maharashtra EV Policy 2021. The government expects electric two-wheelers to make up a considerable part of all new vehicle registrations in the state by 2025. The state will offer subsidies for the first 1,00,000 electric two-wheeler buyers who are eligible for an incentive of Rs. 5,000 per kWh of battery capacity. In fact, the incentive limit has been capped at Rs. 10,000, which is twice the previous cap of Rs. 5,000. According to Ather Energy CEO Tarun Mehta, prices of the Ather 450 and the Ather 450 X electric scooters will be the lowest in Maharashtra, due to the new state EV policy going live.

EV subsidies finally are going live in Maharasthra.

Prices of 450+ come down by ~24K and is now priced at 1.03L in the state, lowest in the country today.

Honestly, 450+ at a price lower than several 125cc scooters is a bonkers pricing!

— Tarun Mehta (@tarunsmehta) September 13, 2021

Also Read: Maharashtra Drafts New EV Policy; Aims For 10 Per Cent Electrification By 2025

Some of the leading electric two-wheeler brands like Ather Energy, Ola Electric, Revolt Motors and Okinawa, are set to benefit from the Maharashtra EV policy.

Under the new Maharashtra EV policy, there will be a base incentive of Rs. 5,000 per kWh of battery capacity for electric vehicles, which is similar to that of two-wheelers. The maximum incentive for electric vehicles (four-wheelers) is capped at Rs. 1.5 lakh, and the minimum incentive for electric two-wheelers is capped at Rs. 10,000. The new policy and subsidies will benefit most electric two-wheeler manufacturers, including Ather Energy, Ola Electric, Okinawa Autotech, Revolt Motors and even Revolt Motors, although Revolt is currently not taking orders for the Revolt RV 400 electric motorcycle.