Registration charge waiver for EVs to boost sales: Revolt Motors

Electric two-wheeler maker Revolt Motors on Wednesday said the waiver of registration charges for electric vehicles (EVs) will be a big boost for sales of such vehicles.

The decision by the Ministry of Road Transport and Highways to waive off registration charges for EVs will make these vehicles affordable for the customers, the RattanIndia-backed company said.

"The proactive approach of the central government in providing incentives for electric vehicles clearly shows the seriousness of the government to accelerate EV adoption in the country. These incentives make EVs buying more attractive for customers versus any petrol bikes," RattanIndia Enterprises Business Chairman Anjali Rattan said in a statement.

The company said the latest amendment to Central Motor Vehicles Rules, 1989 towards waiver of registration charges for EVs comes in the backdrop of slew of incentives given by the centre and various state governments to boost EV adoption in the country.

The centre had recently announced a 50 per cent increase in FAME II incentives for electric two-wheelers to Rs 15,000 per KWh from Rs 10,000 per KWh. Already, GST on EVs is also at the lowest slab of 5 per cent versus 28 per cent for petrol bikes.

"In addition to the central government, various state governments are also taking proactive steps to increase EV adoption in the country whereby incentives ranging from Rs 11,000 to Rs 20,000 per bike are being given to customers to accelerate EV adoption in various states," the company said.

Maharashtra is giving an incentive of Rs 25,000 per bike, Gujarat has an incentive of Rs 20,000 per bike and Delhi has an incentive of Rs 16,200 per bike, over and above FAME II incentives by centre, it added.

With falling battery prices, electric bike prices are already comparable to their petrol counterparts. The waiver of registration charges will further make ebikes more affordable for the customers, the company said.