Ahead Of Investment Meet, Fadnavis Government Announces New Electric Vehicle Policy For MaharashtraMahindra e20 Electric (Manjunath Kiran/AFP/Getty Images)

Ahead of the state’s first ever investment summit – Magnetic Maharashtra: Convergence – the Devendra Fadnavis-led Government of Maharashtra has unveiled its Electric Vehicle Policy (EV Policy) for the year 2018. The policy aims to attract both buyers and manufacturers with tax cuts and other benefits.

The state is focusing on six key points in its policy, with an aim to manufacture five lakh EVs in the state in the next five years:

One, The first one lakh EVs to be registered in the state will be eligible for a 15 per cent subsidy from the government.

Two, The first 250 charging stations in the state will get a 25 per cent capital subsidy from the government, subject to a cap of Rs 10 lakh per station.

Three, EVs will be exempt from road tax and registration fees.

Four, All EV manufacturers will be allowed to set up charging infrastructure at existing petrol pumps, subject to safety clearance from a competent authority.

Five, The electricity tariff for charging infrastructure will be on par with the rates for residential consumers and not commercial consumers.

The first phase of the EV policy will be implemented across six cities, namely Mumbai, Nagpur, Pune, Thane, Aurangabad, and Nashik.

Also Read: Nagpur Is Now The Electric Vehicles Capital Of India; Here’s What Your City Can Learn From It

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