On Tuesday, July 13, the Electric Vehicles (EV) manufacturers’ body said that the added subsidies from the Maharashtra government in its new EV policy will aid to the growing interest among investors. It will also benefit the companies looking to make an entry into the manufacturing of parts for the segment.
Society of Manufacturers of Electric Vehicles (SMEV) is the EV manufacturers’ body. According to reports, the policy has some ambitious targets.
The Maharashtra government unveiled its new EV policy with an aim of making such vehicles achieve a 10 per cent share of total registrations by 2025.
The new policy is an amendment to the one announced in 2018. It was released by Additional Chief Secretary (Transport) Ashish Singh and state environment minister Aaditya Thackeray and others on Tuesday, July 13.
Unveiling Maharashtra’s Electric Vehicle Policy! pic.twitter.com/oPj4khvhIS
— Aaditya Thackeray (@AUThackeray) July 13, 2021
In addition, the government also want to achieve a 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, said Singh while announcing the new policy on Tuesday.
“We also intend to make Maharashtra the top producer of battery-driven EVs in India in terms of annual production capability," Singh was quoted by PTI. Another target laid down in the new policy was to establish one gigawatt of battery manufacturing capability in the state, he added.
As per the SMEV CEO Sohinder Gill, the Maharashtra government policy grants them 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.
Moreover, the added subsidies from the government on batteries and overall vehicles apart from encouraging battery makers to invest in the state will only aid the growing interest among investors and companies looking to make an entry into the manufacturing of parts for the segment, he added.
The company is looking forward to this new phase of electric mobility that will be driven by the states and the consumers who are looking up to a green, clean mode of transport, Gill added.
Besides, Ather Energy Co-founder and CEO Tarun Mehta said that the new policy is extremely comprehensive and has taken into account the entire EV ecosystem.
Mehta also mentioned that Ather Energy is geared to cater to the rising demand in Maharashtra through its retail outlets in cities like Mumbai, Pune. It plans to expand it to Nashik and Nagpur soon.
He stated that the incentives offered in the new policy for both the demand and supply side will accelerate the adoption and the manufacturing of EVs in the country.
Also Read: Maharashtra Govt Could Offer Road Tax Exemptions and Other Perks with Electric Vehicles
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