The Maharashtra government has announced new incentives in a bid to promote manufacturing and sales of electric vehicles (EV) in the state.
The state government, as part of the Faster Adoption of Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, has announced tax exemption on EV purchase, cash back policy at the end of an EV’s lifecycle, as well as subsidy for setting up electric charging stations.
Under the scheme, the state has exempted EVs from road tax as well as registration fees. Further, it has also stated that it will offer a grant of up to Rs 15 lakh to the owner at the end of the EV’s lifecycle.
The first 250 charging stations will get capital subsidy of 25% with a maximum limit of Rs 10 lakh per charging station.
In all, the government plans to spend Rs. 2,800 crore on setting up charging infrastructure in the state over the next 10 years.