RattanIndia says Revolt bike will get Rs 58.6k incentives in Rajasthan
RattanIndia Enterprises said that it estimates its subsidiary – Revolt Motors to get incentives of at least INR 58,690 for each electric motorcycle it sells in Rajasthan courtesy of the recently announced Rajasthan Electric Vehicle (EV) Policy 2021.
Rajasthan’s EV policy will see customers of electric two wheelers get incentives based on the battery capacity of their vehicles.
Revolt bikes, which have a battery capacity of 3.24KWh, will enable incentives of INR 10,690 per bike, which includes a refund of state GST which makes up 2.5% of the cost of the vehicle.
Anjali Rattan – Business Chairman of RattanIndia Enterprises said: “The country expects to have more than 50 lac EV two wheelers over next 5 years. These incentives by state governments will certainly expedite reaching that goal.”
RattanIndia Enterprises said that the Rajasthan state incentives are over and above the FAME II incentives for EV manufacturers that were announced by the Indian government, which comes to INR 48,000 per bike in the case of Revolt Motors.
In Rajasthan, INR 48,000 will be directly paid by the central government to Revolt Motors while INR 10,690 will be transferred into the bank account of the customer.
Rahul Sharma, MD of Revolt Motors said “Three big states have come out with EV incentive policies in last one month alone and more than 20 states are working on release of their incentive schemes.
“These incentives scheme show the seriousness of the government to encourage EV adoption. These incentives will certainly accelerate mass EV adoption in the country.”
Earlier this month, RattanIndia Enterprises said that following the rollout of the Maharashtra Electric Vehicle Policy 2021, it expects Revolt motorcycles to get incentives of at least INR 64,000 per bike in the state.