Tata Nexon EV To Cost Under Rs 10 Lakh Less After New Subsidy In Gujarat?
Mumbai: The Gujarat state government has announced a massive electric vehicle (EV) policy that could be a game-changer for electric cars adoption.
The new policy states that there will be an incentive of up to Rs 10,000 per kWh for EVs. These are valid for electric two-wheelers under Rs 1.5 lakh, three-wheelers under Rs 5 lakh and electric cars under Rs 15 lakh. This is in addition to FAME-II subsidies that the Central government is providing.
A total of 2 lakh EVs will receive this subsidy.
How Much Will Tata Nexon EV Cost In Gujarat?
Now, India’s most affordable 200+ km EV is Tata’s Nexon. The ex-showroom cost of the base model is around Rs 14 lakh in Gujarat. Here’s the cost as calculated by Cartoq.com. The FAME-II rebate according to its website is Rs 2,79,800.
The state government policy is calculated over the battery size. The Nexon has a 30.2kWh battery. That means Rs 3.02 lakh. But the maximum capping is Rs 1.5 lakh for 4-wheelers.
Hence, total benefits on the Nexon EV will be Rs 1.5 lakh + Rs 2.798 lakh = Rs 4.29 lakh. This is a substantial discount as the vehicle will now cost less than Rs 10 lakh ex-showroom.
The policy which also has benefits for public charging infrastructure has been welcomed by industry experts.
“We welcome the move by Gujarat Government, offering incentive support for all categories of electric vehicles. This clearly signals a strong resolve of the government towards cleaner environment and a sustainable future for the country. Also the support extended towards charging infrastructure will accelerate the ecosystem development and bring a greater comfort for EV buyers. We compliment the Gujarat Government for introducing such a progressive policy,” Tata Motors said in a statement.
Similarly, others like Ather Electric, Ampere Electric, Mahindra, have welcomed the move which is expected to boost electric vehicle sales.