Incentives offered by the government of Rajasthan amount to Rs 10,690 per motorcycle and a 2.5% GST rebate
Joining the list of states of Maharashtra, Gujarath, Tamil Nadu and Delhi, Rajasthan is now the latest to introduce special incentives for buyers of electric vehicles. This new policy, which works in tandem with the Indian government’s FAME II policy, aims to give new impetus to the electric two- and three-wheeler segments.
Besides the states mentioned above, more than 20 states across India are expected to introduce specific incentives for electric vehicles. The benefits offered in this category in Rajasthan are of a different incentive structure than offered in other states.
RattanIndia’s revolt for profit
Under the new incentive program adopted by the government of Rajasthan, buyers of electric two-wheelers will receive incentives based on battery capacity. For a capacity of 3.24 kWh, the incentive for Revolt bikes will be Rs 10,690 and this would also include a 2.5% SGST refund on the cost of the vehicle.
This exceeds the FAME II incentives offered to electric vehicle manufacturers which amount 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 amount, Rs 48,000 will be paid to Revolt by the central government while Rs 10,690 will be credited to the customer’s bank account.
|State||Revolt Electric Motorcycle Price Advantage|
|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 increasing day by day. This not only makes the initial cost of the electric two-wheeler more affordable for buyers, but users also benefit in terms of daily running costs. Lower battery costs will also make electric vehicles more affordable than their gasoline-powered counterparts.
Maharashtra was one of the first states where Revolt started sales in February 2020. The company predicts an increase in demand in the state with the Maharashtra Electric Vehicle Policy 2021, in addition to the FAME II incentive, which speed up the adoption process for electric vehicles in the state.
The state incentives range from 25,000 rupees with free registration and 0 road tax in Maharashtra and 20,000 rupees and free registration for buyers in Gujarat. Electric vehicle buyers in Delhi can enjoy a benefit of Rs 16,200 with free registration and 0 road tax and this benefit goes up to Rs 32,000 in Meghalaya with free registration and 0 road tax.
The cost of running Revolt bikes could be as high as Rs 9 per 100 km compared to Rs 250 per 100 km on gasoline bikes. Besides the savings for the customer, the large-scale adoption of electric vehicles will also result in zero automobile emissions and the central government’s goal is to increase the use of electric two-wheelers to over 50 lakh units over the years. Next 5 years.
Revolt RV400 Reservations
Following the latest incentives, Revolt India reopened reservations for the RV500 on July 15th. However, reservations had to be closed within two hours due to overwhelming demand and the company implemented a “Notify Me” for buyers who could not reserve their vehicles.
In previous sales Revolt Motors claimed to have sold the Revolt RV400 worth Rs 50 crore and deliveries of the first batch of bikes have started to these buyers. The RV400 now sees a price drop of Rs 28,000 as a result of the FAME II incentives relating to a price of Rs 90,799 ex-Delhi showroom against a previous price of Rs 1,18,999 while it sells for Rs 87,000 in Ahmedabad.