- Registration fee exemption for electric vehicles proposed
- It includes new registrations and renewal
- Ministry of Road Transport and Highways has issued a draft notification
In another move to accelerate the adaption of electric vehicles, the Ministry of Road Transport and Highways (MoRTH) has proposed to exempt electric vehicles from registration fee in a new draft notification. The proposal includes the issuance of new registration certificates as well as their renewal for the existing EVs.
If the proposal is accepted and implemented, the overall price of electric vehicles, including electric scooters and motorcycles, will come down to a considerable extent. This will encourage more people to buy electric vehicles as the hefty price is one of the main concerns regarding EVs. Once adaption grows, an increasing number of EV makers will be compelled to begin manufacturing vehicles and batteries locally in India. Currently, most of the brands get batteries and other components imported due to the lack of demand.
At present, very few mainstream ICE-powered two-wheeler makers have hopped on the electric bandwagon. TVS and Bajaj are examples of this. However, with the government pushing for its adaption with such exemptions and subsidies, we will see a lot of new big players entering this territory. Brands like Hero and Ola Electric are also planning to contribute majorly in expanding the charging infrastructure. If you want to know the top five upcoming electric scooters, head here.
