The Indian state of Gujarat is implementing an Electric Vehicle policy that aims to provide incentives for renewable energy solutions to the transportation challenges in the state. It will see the state government paying Rs 10,000 per kWh as Direct Benefit Transfer (DBT) to electric bike customers for every unit that they purchase in the state. The policy takes effect from July 1 and could kickstart a rush for two-wheeler electric vehicles in the state of Gujarat.

One company that is hoping to benefit from this policy is Revolt bike which opened shop in the state in 2020. With the Revolt bike having a battery capacity of up to 3.2 kWh, each customer could get above Rs 20,000 when purchasing the electric bike. The Gujarat state EV policy also follows some extensive incentives programs by the national government to engender clean and greener solutions to the transportation challenge. The Central government’s program could also yield up to Rs 15,000 per kWh for the electric vehicle manufacturer. Therefore, a combination of these incentives has made it possible for buyers of Revolt electric bikes in Gujarat to save up to Rs 68,000 for their purchase of the e-bikes.

As could be expected, the incentives regime is bound to drive demand for the bikes to the ceiling, and Revolt is taking steps to ensure that it meets the increased demand expected for the product. With several sales dealership networks slated for opening across the state, Revolt will hope to tap maximum benefit from the new EV policy. In addition, prices for the bikes are bound to go down because of the new subsidy regime. This could lead to more affordable vehicles for a greater segment of the population.

Other states have also begun a similar policy to encourage renewable energy solutions to the country’s transportation problem.

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(source)

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