The Ministry of Road Transport & Highway (MoRTH) declared that the Electric Vehicle registration charges have now been waived off to push EVs in India. The ministry said that the EVs will ‘be exempted from paying a fee for the issue or renewal of registration certificates and assignment of the new registration mark.’
The motive behind waiving off Electric Vehicle Registration Charges
Government plans to work upon faster adoption of EVs with this move and make the shift to e-mobility convenient. In May 2021, the ministry had amended the Central Motor Vehicles Rules, 1989. This amendment proposes no registration fee for Battery Operated Vehicles (BOV).
Benefiting People Around the Country
Earlier, several states had individually waived off the electric vehicle registration charges in their particular state. But now, you won’t have to pay any registration charges for an EV across the country.
EV Sales in India
In the financial year 2021, the total sales of EVs stood at 238,120 units. But if we compare the figure to the financial year 2020, it was down about 19.41% and that’s a huge gap. We all know that there were stringent lockdowns around the country due to COVID.
Two-wheeler sales stood at 1,43,837 units, 5.37% down on a YoY basis. The three-wheeler EVs sales stood at 88,378 units, 59% down on a YoY basis. Low-speed variants contributed to the majority of two-wheeler EV demand with 1,03,000 units sold. While the high-speed model saw sales at about 40,836 units.
In the first 6 months of 2021, the two-wheeler EV makers saw a total sale of 29,288 units. This figure has exceeded the total sales of 2020 which stood at 25,598 units.
We can expect a boom in the EV industry as MoRTH is trying to put forward several new reforms like changes in electric vehicle registration charges to encourage EV. What are your views on the plans government is putting up for faster adoption of EVs? Do you think the subsidies are sufficient? Do let us know in the comments section below.