The more good news for OEMs and potential electric vehicle customers is that the Ministry of Road Transport and Highways (MoRTH) has notified electric vehicles that they will “waive the fees paid for issuing or renewing registration certificates and assigning new registration marks. “.
The ministry had Announcement of the draft notice In May 2021, the 1989 Central Motor Vehicle Regulations were further revised, proposing to exempt electric vehicles (BOV) from the fees paid for the issuance or renewal of registration certificates (RC) and the transfer of new registrations. The idea is to encourage electric vehicles and the faster adoption of electric vehicles in the country.
Although many states have waived registration fees for electric vehicles in their respective policies, the current notification will benefit and bring uniformity to electric vehicle customers across the country.
Electric vehicle sales in India
Cumulative sales of electric vehicles in fiscal year 2021 were 238,120 units, a decrease of 19.41% compared with fiscal year 2020 (sales in fiscal year 2020: 295,497 units). This is because the finance has been affected by a series of lockdowns nationwide to control the spread of COVID-19. Sales of electric two-wheelers and tricycles fell to 143,837 units (-5.37%) and 88,378 units (-59%) respectively year-on-year. In fiscal 2021, most of the demand for electric two-wheelers will come from low-speed models (103,000), while 40,836 high-speed models were purchased during the same period.
OurProfessional’s analysis of 11 leading electric two-wheeler manufacturers in India shows that a total of 29,288 units were sold in the first six months of 2021, which exceeded the total sales in 2020 (25,598 units). As MoRTH further provides power in the form of waived registration fees, the electric vehicle industry is expected to grow further.
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