Science & Technology

The adoption of electric vehicle to speed up on Maharashtra EV Policy

What is EV Policy of Maharashtra?
The abbreviated form of EV stands for Electric Vehicle. Maharashtra is the city, aiming for the
topmost producer of battery-powered electric vehicles in India. By the year 2025, the State
government were planning to have a 10% of new registrations around 3 lakh vehicles a year, and
to achieve this they have rolled out for Rs. 930 crore policy that’s valid till 31st March 2025
hence they announced EV’s will be exempted from the road tax and registration charges. The
above mentioned statement was released by the Maharashtra Environment minister Aditya
Thackeray.

What are the objectives of EV’s policy?
 Firstly it is exempted from road tax and registration charges.
 It had offered incentives for setting up the public charging stations.
 Aiming towards the maharashtra to make the country’s top manufacturing of EV in India.
Thus, to develop the country’s charging infrastructure, the automotive industries were expecting
that the new electric policy would speed up electric vehicles.
In India, Maharashtra’s EV policy was a huge step towards achieving the faster penetration of
EV’s and this gives a sizeable contribution to the sales of the vehicle. The statement was made
according to Icra. As per Icra, corporate sector ratings, and the head of VP, Shamsher Dewan,
the combination of various benefits concerning the policy would help to reduce the price gap
between electric vehicles and ICE, especially in the case of 2 wheelers as well as 3 wheelers
vehicles. Dewan also mentioned that the policy is a key to start up the business across the cities
of the state.
The government of Maharashtra had planned on the adoption of EV’s to promote and building of
infrastructure, which need to be funded over 930 crores for the next 4 years through the help of
green cess registration of old vehicles and fuel cess and the report produced by the Icra.

We observed that various other states were working on the installation of EV’s policy in their
cities of states and they were working on it.
Comments received from others:
 The president of the passenger vehicles business of Tata Motors, Shailesh Chandra said that the
state had come up with enabling EV policy this will assits the faster transition of electric
vehicles.
 Bajaj Auto said that this was an opportunity to expand the business in the case of scooter sectors
in India, accelerating the export markets in Asean and Europe.
 The ED Rajesh Jejurikar, auto and farm sectors of Mahindra & Mahindra, commented that the
financial benefits will help to develop the EV ecosystem in the state. this will be the reason for
massive transformation in the case of technology and for last-mile mobility in India that offers
huge electric vehicle penetration opportunities.
 The founder and CEO of Ather Energy, Tarun Mehta states that it can be called a comprehensive
policy as it takes the entire EV ecosystem. He expects the incentives offered for both the supply
and demand while adopting the manufacturing units of EV’s in the country.

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