RattanIndia backed Revolt Motors, India’s market leader in electric motorbikes welcomed the Ministry of Road Transport & Highways[VA1] (MoRTH)’, Govt. of India notification dated 3rd August 2021 whereby Central Motor Vehicles Rules, 1989 has been amended to waive off registration charges for Electric Vehicles. This will be a big boost for EV sales. With falling battery prices, electric bike prices are already comparable to their petrol counterparts. The waiver of registration charges will further make ebikes more affordable for the customers.
This amendment in Central Motor Vehicles Rules, 1989 towards waiver of registration charges for electric vehicles comes in the backdrop of slew of incentives given by Central Government and various state governments to boost EV adoption in the country. Central Government had recently announced 50% increase in FAME II incentives for EV manufacturers to INR 15,000 per KWh. The GST levied on EVs is also at the lowest slab of 5% versus 28% for petrol bikes.
In addition to Central Government, various state governments are also taking proactive steps to increase EV adoption in the country whereby incentives ranging from INR 11,000 to INR 20,000 per bike are being given to customers to accelerate EV adoption in various states. For example, Maharashtra is giving an incentive of INR 25,000 per bike, Gujarat has an incentive of INR 20,000 per bike and Delhi has an incentive of INR 16,200 per bike, over and above FAME II incentives by Central Govt. More than 20 states are currently in the process of coming out with their EV incentive policies.
Commenting on the Central Govt. notification on waiver of registration charges, Anjali Rattan, Business Chairman of RattanIndia Enterprises said “The proactive approach of Central Govt. in providing incentives for electric vehicles clearly shows the seriousness of Govt. to accelerate EV adoption in the country. These incentive make EVs buying more attractive for customers versus any petrol bikes.”
Revolt Intellicorp is the next-gen mobility company, created for the smart world. Revolt is working with a vision of democratizing clean commutes using next-gen mobility solutions and a mission to create a future of next-gen mobility with 100% accessibility and 0% fuel residue. With technology at its roots and class-apart products, Revolt has introduced India’s first AI-enabled motorcycle without compromising on the performance or aesthetics of a regular ride.
Revolt Intellicorp commenced operations in 2019. The company offers two EV models in India currently, in addition to a full range of genuine parts and accessories available through its authorized dealerships.
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