EV manufacturers body SMEV on Tuesday said the added subsidies from the Maharashtra government on batteries and overall vehicles in its new EV policy will aid to the growing interest among investors and companies looking to make an entry into the manufacturing of parts for the segment. The Maharashtra government policy grants us 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, said Sohinder Gill, CEO Hero Electric & Director General, Society of Manufacturers of Electric Vehicles (SMEV).
Earlier in the day, Maharashtra government unveiled its new EV policy with an aim of making such vehicles achieve 10 per cent share of total registrations by 2025, among others. The added subsidies from the government on batteries and overall vehicles apart from encouraging battery makers to invest in the state will only aid to the growing interest among investors and companies looking to make an entry into the manufacturing of parts for the segment, Gill said in a statement. The company is looking forward to this new phase of electric mobility that will be driven with the states and the consumers who are looking up to a green, clean mode of transport, he added.
Stating 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, Ather Energy Co-founder and CEO Tarun Mehta said that new policy is extremely comprehensive and has taken into account the entire EV ecosystem. In addition to demand incentives, the policy also incentivises buy-back and vehicle scrappage. Early bird incentive is a great mechanism to jump start things, as well as to drive festive sales, Mehta said. Ather Energy is geared to cater to the rising demand in Maharashtra through its retail outlets in key cities like Mumbai, Pune and plans to expand to Nashik and Nagpur soon, he said, adding such progressive policies introduced by the state governments have the potential to drive faster adoption of electric vehicles in the country.
The new policy, which has updated the one announced in 2018, was released by Additional Chief Secretary (Transport) Ashish Singh and state environment minister Aaditya Thackeray and others here. “The policy has some ambitious targets. Electric vehicles must comprise at least 10 per cent of total vehicles registered by 2025. We also want to achieve 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 said, adding another target laid down in the new policy was to establish one gigawatt of battery manufacturing capability in the state.