Maharashtra Has Extended The Early Bird Electric Vehicle Subsidy Until March 31, 2022.
Buoyed by the strong response to its EV Policy introduced earlier this year, the Maharashtra government has decided to extend the additional discount it was offering to early adopters to March 31, 2022. The previous cut-off date for this discount was December 31, 2021.
Maharashtra Early Bird EV Subsidies
Electric two-wheelers, up to the first 1 lakh units, are eligible for Rs 5,000 per kWh subsidies capped at Rs 10,000 per vehicle. The additional early bird incentive that Maharashtra offers is of up to Rs 15,000 for an e-two-wheeler with a 3 kWh battery. Manufacturers of electric two-wheelers in Maharashtra will also receive an additional incentive of up to Rs 12,000 for providing a minimum five-year warranty on the battery and an assured buyback scheme. With the first 10,000 electric cars, the same Rs 5,000 per kWh of battery capacity subsidy applies. EVs with up to 30 kWh battery packs are eligible which means a total incentive of Rs 1.5 lakh. Early adopters get an additional Rs 1 lakh as a subsidy.
Maharashtra EV Sales 2021
The EV policy has boosted sales of electric vehicles in Maharastra. The state recorded a 157 per cent rise in EV sales between April 1 and December 27, 2021 with 24,215 EVs sold in 2021-22. This is up from 9,416 the previous. In Mumbai, EV sales increased from 1,422 to 3,059 units leading to a 112 per cent rise here. Maharashtra is one of many states how have put in place EV policies in 2021, all of which subsidies electric vehicle purchases to various degrees, the aim being to bring down the high entry price of this technology to an extent until a critical mass of new buyers is reached. This should accelerate demand for EVs further as the technology improves to serve more buyers’ needs.