In Maharashtra, select Nexon EV and Tigor EV models would be eligible for an additional Rs 1 lakh subsidy until March 31, 2022.
The Maharashtra government has extended its early bird bonus scheme for certain electric car customers until March 31, 2022; it was originally due to terminate on December 31, 2021. Only two four-wheeler vehicles, Tata’s Nexon EV and Tigor EV, are eligible for these perks.
Maharashtra’s electric car policy offers a base reward of Rs 5,000 per kWh of vehicle battery capacity, with a maximum incentive of Rs 1.50 lakh. The programme also permitted EV purchasers to take advantage of early bird benefits if they purchased a vehicle before December 31, 2021, which has subsequently been extended until March 31, 2022. This means that customers of qualifying Neon EV models will save Rs 2.5 lakh (Rs 1.5 lakh as a subsidy and Rs 1 lakh as an early bird incentive), bringing the vehicle’s price down by a significant amount. In addition, all Tigor EV models are eligible for the subsidy and are currently being sold with the additional early bird incentive.
A brief check with dealers a few months ago revealed that a substantial number of buyers were switching to qualified Nexon variants and that many new bookings were being made in order to take advantage of subsidy benefits. However, policy implementation delays, combined with a continuous semiconductor shortage and periodic COVID-19 delays, resulted in a massive order backlog.
In terms of waiting times, the Nexon EV qualifying models can be delivered in as little as six months, depending on availability, while the Tigor EV has a two-month wait. We spoke with a few dealers and potential customers who were pleased with the extension because it will allow more purchasers to take advantage of the early bird discounts, resulting in lower acquisition costs for their new electric vehicle.
Do the MG ZS EV and Hyundai Kona qualify under Maharashtra’s electric vehicle policy?
The Maharashtra EV policy’s subsidy benefits are higher than those granted by the Central Government under the FAME II plan, which needs vehicles to be priced under Rs 15 lakh to be eligible for subsidies. Other electric SUVs, such as the MG ZS EV and the Hyundai Kona, are not eligible for these perks.
Maharashtra’s electric vehicle policy: Two-wheeler deliveries continue unabated
The highest reward under Maharashtra’s EV policy is Rs 10,000 for two-wheelers and Rs 30,000 for three-wheelers, respectively. Most two-wheeler firms, according to reports, have continued to sell their products in the state without the aforementioned perks.
Tata Nexon EV: A longer-range model is in the works
Tata Motors is working on a long-range version of the Nexon EV, as we reported earlier this month.