Accelerating Electrification Through Rajasthan Government's Electric Vehicle Policy
In a move that is set to make electric motorcycles more affordable and accessible, the Rajasthan government has announced the Rajasthan Electric Vehicle (EV) Policy 2021. This policy, one of multiple state EV policies being implemented or developed, is expected to hasten the process of electrification in the country.
Rahul Sharma, MD of Revolt Motors, has welcomed the new policy. He mentioned that three big states have released EV incentive policies in the last one month, with Rajasthan being the 16th state in India to come out with an EV policy.
Under the Rajasthan EV Policy 2021, customers of electric vehicles will receive subsidies up to Rs 20,000 on the purchase of electric vehicles. The policy will also subsidize customers by reimbursing SGST and offering a one-time incentive based on battery capacity.
For Revolt bikes with a battery capacity of 3.24KWh, the incentives amount to Rs 10,690 per bike, which will be directly credited into the customers' bank accounts. Combining these incentives with the recently announced central government's FAME II incentives, Revolt customers in Rajasthan will receive incentives of at least Rs 58,690 per electric vehicle sold.
The falling battery prices have made electric bikes prices comparable to their petrol counterparts. Revolt electric bikes, for instance, have a running cost of approximately Rs 9 per 100 km, compared to Rs 250 per 100 km for petrol bikes, offering significant savings on running costs to customers.
Anjali Rattan, Business Chairman of RattanIndia Enterprises, expects more than 50 lakh e-two wheelers in the country over the next 5 years. The government's EV incentive schemes, as stated by Rahul Sharma, show a serious intent to encourage EV adoption.
More than 20 states are working on the release of their EV incentive schemes, according to Rahul Sharma. The central government will pay Rs 48,000 directly to Revolt Motors, over and above the incentives offered by the state government. This move is expected to boost the sales of electric vehicles in Rajasthan and across the country.
In conclusion, the Rajasthan EV Policy 2021 is a significant step towards promoting the adoption of electric vehicles in the state. The policy, along with the central government's FAME II incentives, will make electric vehicles more affordable and offer substantial savings on running costs, making them a viable and attractive option for consumers.
