Exemption announced from RC issue costs for all electric cars, scooters, motorcycles – Basically all battery operated vehicles
Ministry of Road Transport & Highway’s (MoRTH) notification dated August 03, 2021 focuses on an all important amended. Central Motor Vehicles Rules, 1989 has been amended to waive off registration charges for electric vehicles. For now, policies catering to boost demand for EVs is pretty much a tree that doesn’t stop giving.
Following incentives, and subsidies, doing away with registration costs is not just convenient but does translate to a direct financial benefit. Put together, buyers can now enjoy a quantum of benefits. GST on EVs too is a benefit at 5 percent.
The announcement will see many take this opportunity to save money that would otherwise be spent on e-vehicle registration. Electric two wheeler makers welcome central government’s decision to waive off registration charges for electric two wheelers. The decision is expected to give boost in sale of two-wheeler in the country.
In the larger picture, the move is also expected to reduce congestion on roads due to toxic emission from vehicles. With these changes, no registration fee is required to be paid for a large variety of battery operated vehicles. The decision helps in promoting sales of electric vehicles in the country.
Electric vehicles sales roadmap in India
It’s very much obvious that market situations are now in a much better condition to lay the groundwork for robust EV industry growth. The number of players that have entered the market continues to be encouraging. While electric vehicles have been part of discussions, it’s only in recent months that decision making bodies are aggressively pushing Electric Vehicles (EVs) through revised subsidies and tax exemptions.
For long one has had to gauge policies that consistently failed to make EVs sell. With an absolute need to follow global targets of pollution and emission reduction, the government has seemingly become more supportive of EV manufacturers.
Growth expected for EVs
Ever since the introduction of e-bikes, manufacturers haven’t exactly benefitted from the new tech that’s available. Despite all the markings of a big space for development, there were no takers when it came to buying. It’s only very recently that electric two-wheeler manufacturers have been able to increase their production volume meaningfully.
In order to meet the increasing demands and market penetration, companies too need to make longterm investments for production, research and development. And this isn’t conducive on the back of weak policies. Now electric bike manufacturers are hoping that this demand will continue grow, so that they can make more money out of it, and see a return on their investment as well.
