Revolt Motors, India’s leading electric two-wheeler maker has welcomed the Gujarat Electric Vehicle Policy 2021 announced by the state. Revolt believes that the EV sales could pick up in Gujarat, as both state and centre have announced higher subidy on EVs.
According to the new Gujarat EV policy, the state government will pay Rs 10,000 per Kwh as Direct Benefit Transfer (DBT) incentive to the EV bike customers for every EV bike sold in Gujarat. The new policy will come into effect from July 1, 2021. These incentives are linked to the battery capacity of EVs and with battery capacity of 3.2 KWh for its RV 400 EV bikes, Revolt customers will save atleast Rs. 20,000 per bike.
Earlier Central Government has announced the FAME II incentives of Rs 15,000 per kWh for EV manufacturer. Going by the FAME II announcement, the prices of the Revolt bike has been reduced by up to Rs 48,000. Combining the two incentives it would mean incentives of atleast Rs. 68,000 per bike sold by Revolt in Gujarat. This policy could mean incentives of more than Rs. 870 crores for 2 lac EVs to be sold in Gujarat.
Gujarat was one of the first states where Revolt started its sales in February 2020. In order to meet huge demand, Revolt is fast scaling up its sales dealership network in the state. The implementation of Gujarat EV policy 2021, in addition to the FAME II incentive, will accelerate the process of EV adoption in the state. The increased subsidy being offered under the new scheme will make EV motorcycles more affordable and accessible to consumers.
Not just Gujarat, Delhi Government is also giving direct incentive of Rs 5,000 per kWh or about Rs 16,200 per bike for Revolt customers. Similarly, Meghalaya has incentive of Rs 32,000 per bike for Revolt and Bihar Government has also proposed a similar amount as incentive. In addition states of Telangana, Tamil Nadu and Delhi have also waived off the road tax for EV two wheelers.