Planning to buy an EV? Don’t forget to fill up few forms and get a subsidy on Electric Vehicles by the government. Many countries and states in India have framed policies to encourage production as well as sales of electric vehicles.
Gujarat is one of the Indian states which have framed a well defined policy to reward Electric Vehicles buyers. Gujarat has made a four-year plan starting from 1 July 2021 and ending on 1 July 2025. Under this policy, all-electric vehicle buyers will be given subsidies.
Criteria For Subsidy On Electric Vehicles
The Government of Gujarat has allocated a massive amount of Rs 8,700 Million for new EV buyers as well as for the investors investing in the infrastructural development of EVs. The authorities in Gujarat have estimated that in the next four years a total of 50 million fuel expenditure will be saved along with 6 Lakh tonnes of CO2 emissions.
Under this policy, the subsidy will be provided for the buyers of 2-wheelers, 3-wheelers and 4-wheelers only. The plan is to subsidize a total of 200,000 vehicles which includes 20,000 four-wheeler EVs, 70,000 three-wheeler EVs and 110,000 two-wheeler EVs.
The subsidy of Rs 10,000/Kwh of battery capacity will be given by Gujarat which is the highest in all the states of India. However, the total incentive for two-wheelers is capped at Rs 20,000. For three-wheelers and four-wheelers the subsidy amount is capped at Rs 50,000 and Rs 150,000 respectively.
The procedures are kept quite simple to get subsidies. One can get the amount directly from the state department of transport once the vehicle documents are authenticated.
Other Criteria
One more criterion is there for the ex-showroom price of the vehicle. If the two-wheeler ex-showroom price exceeds Rs 150,000 then the buyer is not eligible for the subsidy. Similarly for three-wheelers and four-wheelers the maximum ex-showroom price is Rs 500,000 and Rs 1.5 million. Please note that this policy is not only applicable on commercial vehicle buyers but also on private cars, bike buyers etc.
Subsidy On Electric Vehicles : Key Advantages
Gujarat government has also planned to add 250 new stations in the state. Now the total number of stations will increase to 520. For investors and businessmen, who will set up first 250 commercial charging stations will be rewarded with a 25% subsidy (maximum 1 million per station) on machineries and equipment.
Besides this Gujarat electricity department will waive off electricity duty for these stations for the whole duration of the policy.
Advantages Of The Policy
This policy will not only boost the production and sales of electric vehicles but also will help to reduce carbon emissions by large margins. Not only this, but it will also marginalize our dependence on fossil fuels and consequently, the prices of gasoline may also see a downfall.
This is the future of the automobile industry. EV technology is believed to bring a revolution in the automotive world. What we want today is similar encouragement from other state governments as well as from the central government as shown by the government of Gujarat.
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