E-vehicles to be cheaper by up to 40% – Three big states have announced EV subsidy in a month, 20 in preparation

There is positive news from electric vehicles (EVs) amid a record increase in the price of petrol and diesel. After the central government, now the states have also started giving incentives to promote EVs. In the last one month, three big states have announced this, while 20 states are preparing the policy. In the states that have started giving incentives, there is a huge reduction of up to 40% in the prices of EVs.

The Central Government has also announced the subsidy in early July,

The Center has extended the period of ‘ Faster Adoption and Manufacturing of Electric Vehicles’ (FAME-2) scheme by two years to March 31, 2024. Earlier this scheme was to end in April 2022. Now the state governments are also making it easier for the people to buy electric vehicles at their respective levels. In the last one month, Maharashtra, Gujarat and Rajasthan have implemented EV incentive policy.

This policy is already in force in three other states. With this, the cost of electric two-wheelers has almost halved. 20 states are in the process of promoting electric vehicles. After such a policy is implemented in them too, the demand for EVs will increase.

More than 50 lakh electric vehicles will be running in five years

EV companies are excited. They believe that this will encourage more and more people to use electric vehicles.

Anjali Ratan, Chairman, Ratan India Enterprises, which makes electric motorbikes of the Revolt Motors brand, said, in the next five years, more than 5 million electric two-wheelers are expected to ply on the country’s roads. This target can be achieved earlier also due to the incentives being given by the state governments.

Relief from expensive fuel

Sheetal Bhalerao, CEO of WordWizard Innovations and Mobility, says that this step will make people think of buying electric vehicles, who have not bought any vehicle till now. This decision will take electric vehicles to the common people and they will get relief, for whom commuting has become expensive due to the increase in fuel prices.

The price of vehicles will come down so much

For example, let’s talk about the Revolt bike sold in Gujarat.

Actual price – Rs 1,55,000

Central subsidy – Rs 48,000

State Subsidy – Rs 20,000

Price of bike after both subsidies – Rs.87,000

Saving Rs.68,000