Ministry of road transport and highway proposes weaving off the registration fees from the new electric vehicle purchase, hoping for more adaptation of EVs.
- Ministry of road transport and highway weaving off registration fees from EV
- It should be noted that the registration fees aren’t too high
- Electric vehicles are slowly making their way to India as mainstream brands and planning to launch their EVs
While in order to promote the adoption of electric vehicle mobility, the ministry of road transport and highway suggested center weave off the registration fees from the electric vehicles as well charges for renewing the registration certificate. Although, the proposal was shared by the authorities through their social handles and the final call yet to be taken by the central government upon the proposal. The ministry has also drafted a notification about that so we have to wait for the results of the draft. However, to further cut off the prices the local manufacturing of the lithium-ion batteries should be done.
However, it should be noted that the registration charges on electric vehicles aren’t high as it ranges from Rs 300 and goes up to Rs 1,500 depending upon the space of the vehicle. Although, for the major reduction on the charges the government should provide subsidies on rad taxes of battery-powered electric vehicles. Earlier, this year government has also announced the new vehicle scrapping policy, hoping to reduce the old vehicle numbers from the Indian streets. Under this policy, the new buyers can get the concession of 25 percent on road tax, in exchange for scrapping their old car. For commercial purposes, the percent is as low as 15 percent.
However, according to this policy under the scrapping certificate, the buyer doesn’t have to pay the registration fees for their new car. Although, the new policy will come into effect on 1st October 2021, initial with commercial vehicles, while for private vehicles it will come into effect in coming years. Currently, all the EV makers have to import the Lithium-ion battery, which further increases the EV production cost, and if the vehicle batteries are subjected to locally manufactured then it will definingly work on reducing the cost of EVs in our market. Other than that EVs are slowly making their way to India in recent times as Mercedes-Benz, MG, Hyundai launched their first Electric vehicle in the Indian market also in the two-wheeler market by TVS and Bajaj.