EV subsidy in Haryana has been increased by up to Rs 6 lakh on new electric vehicle purchases. Customers can also avail subsidy up to Rs 3 lakh on Hybrid cars.
Haryana government has joined the club of states offering high EV subsidies. Yes, the government recently revised its EV subsidies for all vehicle types. The new increased subsidy is not just limited to the vehicles but also for manufacturing EVs in the state. The increased rates are to boost the state economy as well as push EV sales in Delhi-NCR.
EV Subsidy Revision Details
The new subsidy rates include higher price caps for various EV types. For example, if you are looking to buy any car with hybrid technology; the maximum subsidy that the government can grant is up to Rs 3 lakh or 15 percent of the ex-showroom price of the vehicle. This cap is for vehicles that cost up to or below Rs 40 lakh. Cars like the Honda City e:HEV hybrid come under this revision.
However, the pure electric vehicles like the Tata Nexon EV Max; the price cap is up to Rs 6 lakh or 15 percent of the ex-showroom price. This segment subsidy is only for vehicles that range from Rs 15 - 40 lakh ex-showroom. This means cars like the Volvo XC40 Recharge remain out of the subsidy range.
Meanwhile, if you are planning to buy a car like the Tata Tigor EV the subsidy persists. Haryana government offers up to 15 percent relaxation in the base price of the vehicle below Rs 15 lakh (ex-showroom). Additionally, multiple incentives are being provided as follows - Rs 25,000 for e-Rickshaws, Rs 50,000 for any E-LCV, Rs 75,000 for EV below Rs 10 lakh, & Rs 1 lakh for any EV above Rs 10 lakh.
Growing EV Culture
Meanwhile, the EV buyers are subsequently increasing in India. The growth of the EV sector remains stable as the pitch is consistent. Additionally, products such as the Ather 450X Gen 3 have helped manufacturers to push the EV sector. Additionally, the rising subsidy rates are going to help the new players in the EV segment even more.
