Gujarat's new electric vehicle policy to boost buyer's interest

A new electric vehicle policy initiated by the Gujarat government has spurred enthusiasm among EV manufacturers and buyers in the state. As per the new policy, indivduals willing to purchase an electric vehicle will be offered a subsidy of up to INR 20,000 (US$270) on electric two-wheelers, INR 50,000 (US$675) on three-wheelers, and INR 1.5 lakh (US$2,024) on cars.

Additionally, e-vehicles registered in Gujarat RTO will be relieved from paying registration fees. Furthermore, a capital incentive of up to Rs 10 lakh or a 25% capital subsidy of the project cost will be offered for the development of charging points.

According to government analysis, Gujarat's subsidy on EVs is one of the highest offered by any state, standing at Rs 10,000 per kilowatt.

Nemin Vora, CEO of Odysse Electric Vehicles Pvt. Ltd. (Ahmedabad), told one of the sources that they are still trying to gather specific facts on the government’s notification on the policy. However, as soon as the subsidy news became public, their dealers have begun to receive inquiries.

Odysse, which has four electric two-wheeler models, including a motorbike and two high-speed scooters, anticipates a spike in demand for its high-speed scooters.

In the electric car segment, Tata Motors expects this new policy to assist the construction of charging infrastructure to support the ecosystem of e-mobility. In Ahmedabad, Tata Motors has two electric vehicles on the road: the Nexon EV, which costs around Rs 15 lakh, and the Tigor EV, which costs around Rs 11.77 lakh.

Kartikey Hariyani, CEO of CHARGE+ZONE, said that initiatives such as additional monetary subsidies on the purchase of new electric vehicles and incentives to construct EV charging infrastructure will go a long way to helping EV become a robust sector in Gujarat.

While Tarun Mehta, Co-founder and CEO, Ether Energy, tweeted that Gujarat might just shift from possessing the costliest EVs in the nation to the cheapest ones with just one policy change.

Source Credit - https://www.thehindubusinessline.com/news/national/gujarats-electric-vehicle-policy-charges-up-manufacturers-sparks-flurry-of-customer-inquiries/article34911200.ece