RattanIndia says Revolt bike will get Rs 64k incentives in Maharashtra
RattanIndia Enterprises said that it expects that electric motorcycles sold by its subsidiary – Revolt Motors in Maharashtra could get incentives of at least INR 64,000 per bike following the roll out of the Maharashtra Electric Vehicle Policy 2021.
The Maharashtra government in order to promote the use of electric vehicles (EVs) has announced an incentive of Rs 10,000 per bike under the Maharashtra Electric Vehicle Policy 2021.
According to RattanIndia Enterprises, customers purchasing electric motorbikes before 31 December 2021 will get INR 15,000 in additional early bird incentives on top of the INR 10,000 regular incentive to take the total incentives to INR 25,000. This adds to the FAME II incentives offered for electric vehicle manufacturers by the Indian government, which amounts to INR 48,000 per bike in the case of Revolt Motors.
Additionally, owners of EV bikes do not have to pay road tax and registration fees, which will further increase the savings of the customer. Along with that, the petrol two wheelers owners who change to EVs bikes will get scrappage incentive of INR 7,000.
RattanIndia Enterprises said that elsewhere, in Gujarat, the state government is offering incentives of INR 20,000 per bike, the Delhi government is providing direct incentive of INR 5,000 per KWh or around INR 16,200 per bike for Revolt customers.
In, Meghalaya, the state government is giving an incentive of INR 32,000 per bike for Revolt, while Bihar has proposed a similar amount as incentive.
The Telangana, Tamil Nadu, and Delhi government have also removed the road tax for EV two wheelers, said RattanIndia Enterprises, which holds a controlling stake in Revolt Motors (Revolt Intellicorp).
RattanIndia Enterprises stated: “These incentives by the Central Government and various State Governments show the seriousness of the government to encourage manufacturing and EV adoption in country.
“With falling battery prices, EV bikes prices are already comparable to their petrol counterparts. With EV running cost of approximately Rs. 9 per 100 kms, these bikes have very low running cost as compared to petrol bikes which cost Rs. 250 per 100 kms.”