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Gujarat’s electric car prices are one of the lowest in India-Technology News, Firstpost

The adoption of electric vehicles (EVs) in India has begun to pick up gradually, and today the Government of Gujarat has taken a new step towards accelerating the spread of EVs in the state. As part of Gujarat’s Electric Vehicle Policy 2021, the state government has a four-year plan with a total expenditure of 870 chlores to be offered as subsidies / incentives to new electric vehicle purchasers and their people across the segment. Announced. Invest in the development of EV infrastructure.

At a press conference earlier today, Gujarat’s Prime Minister Vijay Rupani, along with those who install charging stations, will bring tangible benefits to those who buy electric motorcycles, tricycles, or four-wheeled vehicles. Announced policy. The entire state. These benefits outweigh those already provided by the national FAME-II subsidy system. Gujarat estimates that these will help the state save up to Rs. 500 million in fuel spending and reduce CO2 emissions by 60,000 tonnes over the next four years.

Gujarat EV Policy 2021: What are the benefits for buyers?

Based on that policy (valid until July 1, 2025), the Government of Gujarat will subsidize the purchasers of three categories of electric vehicles: motorcycles, tricycles and four-wheeled vehicles. The policy aims to subsidize the purchase of a total of 200,000 EVs. This includes 110,000 e-motorcycles, 70,000 e-tricycles and 20,000 e-four-wheeled vehicles.

The incentive of 10,000 rupees per 1kWh of battery capacity is the highest in any state of India, but the maximum subsidy is 20,000 rupees for electric scooters and motorcycles, 50,000 rupees for electric scooters and 15,000 rupees for electric vehicles. And SUV. These incentives will be credited directly to the purchaser’s bank account by the state transport department once the vehicle purchase document has been authenticated.

Please note that EVs covered by this subsidy have a price threshold. To qualify for this incentive, the factory price of the e-two-wheeler cannot exceed Rs 15,000. Similarly, the upper limit for e-rickshaws is 5 rupees and 15 rupees for electric vehicles. In particular, subsidies are also provided to those who purchase private cars and are not limited to those who purchase commercial vehicles.

Prices for Ather Energy’s 450 Plus and 450 X scooters in Gujarat will fall by 20,000 rupees. Image: Ather Energy

The price cap means that most electric vehicles currently on the market (including Hyundai Kona Electric, MG ZS EV, Mercedes-Benz EQC, Jaguar I-Pace) are not eligible for Gujarat subsidies. However, Tata Nexon EVs priced from Rs 13.99 will benefit from this policy as they are eligible for a full subsidy of Rs 1.5. This will reduce the purchase cost to about the same price. Delhi.

For electric motorcycles, all electric bicycles and scooters equipped with a 2kWh lithium-ion battery are eligible for an incentive of 20,000 rupees. Prices for the Ather 450 Plus and 450X are expected to drop to Rs 1.07 and Rs 1.27, respectively, while models such as the TVSiQube and Revolt RV400 are expected to cost well below Rs 1. With an incentive of 20,000 rupees, the price of the TVS iQube in Gujarat (if launched within the next few months) could be close to 90,000 rupees and the final price of the Revolt RV400 could drop to 87,000 rupees. .. Other electric motorcycle manufacturers may also announce price revisions for their models in Gujarat.

To make the deal even sweeter, the Government of Gujarat also exempts electric vehicle buyers from registration fees, making electric vehicles much more affordable.

Electric vehicles and SUVs are eligible for subsidies of up to 1.5 rupees, unless factory costs exceed 15 rupees.Image: Audi

Gujarat EV Policy 2021: What are the benefits of charging infrastructure developers?

Currently, Gujarat has a total of 278 charging stations throughout the state, and this policy aims to add another 250 charging stations and count them as 528 charging stations. To this end, the government has announced that it will approve the installation of EV charging stations on-site for fuel pumps throughout the state.

Those who install commercial public EV charging stations are eligible for a 25% capital subsidy of up to 10 rupees. Image: Ather Energy

Those who install the first 250 commercial public EV charging stations are eligible for a 25% capital subsidy of up to 10 rupees. Image: Ather Energy

Those who install the first 250 commercial public EV charging stations are eligible for a 25% capital subsidy for equipment / machinery (limited to Rs 10 per station). In addition, Gujarat will exempt EV charging stations from electricity charges during the policy period. More details on how developers can take advantage of this grant will be shared in the future.

The policy also directs that all residential and commercial facilities be equipped with charging stations and provide a “No Objection Certificate” (NOC) to members who wish to allocate designated parking spaces.

Gujarat EV Policy 2021: What must the EV industry say?

In response to the announcement by the Government of Gujarat, Sohinder Gill, Executive Director of the Association of Electric Vehicle Manufacturers (SMEV), said: “Thanks to the Government of Gujarat for announcing a promising and bold EV policy. This policy certainly has the potential to make Gujarat an EV hub and mobilizes the rapid adoption of electric vehicles in the state. We are excited to be part of this journey and will do our utmost to achieve the goals of the state government under this policy, especially for electric four-wheeled buggies. We are also focusing on a charging infrastructure that addresses the issue of range anxiety among those who want to buy. “

Scheilesh Chandra, president of the Tata Motors Passenger Car Business Unit, commented on Gujarat’s EV policy: This clearly demonstrates the government’s strong determination for a cleaner environment and a sustainable future for the country. In addition, extended support for the charging infrastructure will accelerate the development of the ecosystem and bring greater comfort to EV buyers. We commend the Government of Gujarat for introducing such progressive policies. “

Mahindra Electric Mobility Ltd CEO Mahesh Babu enthusiastically responded to the policy announcement as the policy could spur the sale of the branded Treo electric tricycles in the state.

“Thanks to the Government of Gujarat for informing us of the new EV policy of progressive and comprehensive nature. Spending Rs 87 billion over the next four years will help EVs thrive in Gujarat. This policy outlines a clear recruitment strategy, especially in the Last Mile Mobility segment. Government-provided financial benefits directly benefit end customers, and non-financial benefits are the development of the entire state EV ecosystem. Gujarat is a major state of EV adoption in the country, as Mahindra is enthusiastic about deploying products like the Treo tricycle series and has low operating costs, which allows customers to earn more income. Can be one of



Gujarat’s electric car prices are one of the lowest in India-Technology News, Firstpost

Source link Gujarat’s electric car prices are one of the lowest in India-Technology News, Firstpost

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