Incentives offered by the Rajasthan Government amount to Rs 10,690 per motorcycle and refund of 2.5 percent GST
Joining the list of states of Maharashtra, Gujarath, Tamil Nadu and Delhi, now Rajasthan has become the latest to introduce special incentives to buyers of electric vehicles. This new policy with works in tandem with the FAME II policy of Government of India seeks to add further impetus to electric two and three wheeler segments.
Apart from the states mentioned above, more than 20 states across India are expected to introduce state specific electric vehicle incentives. The benefits offered in this category in Rajasthan is of a different incentive structure as compared to that offered in other states.
RattanIndia’s Revolt to Benefit
Under the new incentive scheme adopted by the Rajasthan Government, buyers of electric two wheelers will receive incentives based on battery capacity. For capacity of 3.24 kWh packs, the incentive for Revolt bikes will be at Rs 10,690 and this would also include a SGST refund of 2.5 percent on the cost of the vehicle.
This is over the FAME II incentives offered to electric vehicle makers that amounts to Rs 48,000 per bike for the Revolt which would mean a total incentive of a minimum of Rs 58,690 per bike sold by RattanIndia in Rajasthan. Of this, Rs 48,000 will be paid to Revolt by the Central Government while Rs 10,690 will be credited to the bank account of the customer.
|State||Revolt Electric Motorcycle Price Benefit|
|Maharashtra||Rs. 25,000 + free registration + zero road tax|
|Gujarat||Rs. 20,000 + free registration|
|Delhi||Rs. 16,200 + free registration + zero road tax|
|Meghalaya||Rs. 32,000 + free registration+ zero road tax|
These incentives come at a time when fuel prices are escalating by the day. It not only makes the initial cost of the electric two wheeler more affordable for buyers but users also benefit in terms of day to day running costs. Falling battery costs will also make electric vehicles more affordable than their petrol powered counterparts.
Maharashtra was one of the first states where Revolt commenced sales in February 2020. The company predicts increased demand in the state with the Maharashtra Electric Vehicle Policy 2021, in addition to the FAME II incentive, which will accelerate process of EV adoption in the state.
State-wise incentives range from Rs.25,000 along with free registration and 0 road tax in Maharashtra and Rs 20,000 and free registration for buyers in Gujarat. Buyers of electric vehicles in Delhi can avail of a Rs 16,200 benefit along with free registration and 0 road tax and this benefit goes up to Rs 32,000 in Meghalaya along with free registration and 0 road tax.
Running cost for Revolt bikes could work out to Rs 9 per 100 kms as against Rs 250 per 100 kms on petrol bikes. Apart from the saving to customer, large scale adoption of electric vehicles will also result in zero auto emissions and the aim of the Central Government is to boost use of electric two wheelers to over 50 lakh units over the next 5 years.
Revolt RV400 Bookings
Following the latest incentives, Revolt India reopened bookings for the RV500 on July 15th. However, bookings had to be shut within two hours due to overwhelming demand and the company has put up a ‘Notify Me’ for buyers who could not book their vehicles.
In earlier sales, Revolt Motors claimed that it sold Revolt RV400 worth Rs 50 crore and deliveries of the first lot of bikes have commenced to these buyers. The RV400 now sees a price cut by Rs 28,000 following the FAME II incentives relating to a price tag of Rs 90,799 ex-showroom Delhi as against an earlier price of Rs 1,18,999 while it retails at Rs 87,000 in Ahmedabad.