By: ICN Bureau
Last updated : August 05, 2021 10:54 am
The waiver of registration charges will further make ebikes more affordable for the customers
RattanIndia backed Revolt Motors, India’s market leader in electric motorbikes, has welcomed the Ministry of Road Transport & Highways’ notification dated 3rd August 2021 whereby Central Motor Vehicles Rules, 1989 has been amended to waive off registration charges for Electric Vehicles (EV).
This will be a big boost for EV vehicles sales since customers will end up saving a big portion of the vehicle cost as registration charges. With falling battery prices, EV bikes prices are already comparable to their petrol counterparts. The waiver of registration charges will further make ebikes more affordable for the customers.
The Central Government had recently announced a 50% increase in FAME II incentives for EV manufacturers to Rs. 15,000 per KWh which works to approximately Rs. 48,000 per bike for Revolt. Customers of Electric Vehicles already have to pay GST at the lowest slab of 5% versus 28% for petrol bikes.
In addition to the Central Government, various state governments are also taking proactive steps to increase EV adoption in the country whereby incentives ranging from Rs. 11,000 to Rs. 20,000 per bike are being given to customers to accelerate EV adoption in various states. These incentives are over and above those given by the Central Government for e.g. Maharashtra is giving an incentive of Rs. 25,000 per bike, Gujarat has an incentive of Rs. 20,000 per bike and Delhi has an incentive of Rs. 16,200 per bike over and above FAME II incentives by Central Government. More than 20 states are currently in the process of coming out with their EV incentive policies.
Commenting on the Central Government notification on waiver of registration charges, Anjali Rattan, Business Chairman, RattanIndia Enterprises said, “The proactive approach of the Central Government in providing incentives for electric vehicles clearly shows the seriousness of the Government to accelerate EV adoption in the country. These incentives make EVs buying more attractive for customers versus any petrol bikes.”