Today marks a historic day for India on the global front as the Ministry of Road Transport & Highways (MoRTH) announced that all the Electric Vehicles (EV) ‘be exempted from paying a fee for the issue or renewal of registration certificates and assignment of new registration mark’. The notification seems to have come in the support of the Indian auto market which is rapidly progressing towards the era of clean energy concept and e-mobility.
It’s worth sharing that electric vehicles utilize lithium-based and other kinds of batteries to fuel up the car and doesn’t rely on conventional energy sources like petrol and diesel. This way they produce zero exhaust and help in keeping the air and environment clean and toxicity-free. These batteries can be charged through specific cables and give quite a good mileage and performance. Many auto giants like Tesla are completely electric vehicle manufacturing companies that believe that electric vehicles are the future of mobility. Elon Musk, the CEO & Founder of Tesla Inc. has on various instances mentioned that he and his team will show the world that an electric vehicle can be a category leader and can outsell its gas-fueled contemporaries.
The EV market in India is growing at a fast pace and people are gradually deviating towards the usage of electric vehicles as the awareness about climate change, environmental preservation and sustainability are increasing.
The Ministry had announced the draft notification in May 2021 regarding the amendments to the Central Motor Vehicles Rules, 1989. The amendment was focused on the proposal to exempt Battery Operated Vehicles (BOV) from paying fees for issue or renewal of Registration Certificate (RC) and assignment of new registrations to EVs. Many states have already waived off the registration fees for EVs in their respective states but this particular announcement is expected to benefit potential EV consumers pan India.
EV Market in India
With MoRTH providing impetus in the form of waiver for registration fees, the EV industry is expected to grow further. Current EV sales in India stand at 238,120 units. The recently announced electric vehicle (EV) incentives by India along with high fuel prices will be supporting factors for stronger adoption of EVs over 2020-2023, leading to an average annual growth rate of 26 percent.
List of popular electric cars in India
|Audi e-Tron||Rs. 99.99 Lakh – 1.17 Cr*|
|Tata Nexon EV||Rs. 13.99 – 16.85 Lakh*|
|Jaguar I-Pace||Rs. 1.05 – 1.12 Cr*|
|Strom Motors R3||Rs. 4.50 Lakh*|
|Mercedes-Benz EQC||Rs. 1.06 Cr*|
|MG ZS EV||Rs. 20.99 – 24.18 Lakh*|
|Mahindra E Verito||Rs. 10.15 – 10.49 Lakh*|
|Tata Tigor EV||Rs. 9.58 – 9.90 Lakh*|
|Hyundai Kona Electric||Rs. 23.77 – 23.90 Lakh*|
*ex-showroom prices, Delhi.