Maharashtra has approved an additional incentive of Rs 66.82 crore for Bajaj Auto under its 2021 Electric Vehicle Policy, covering 66,817 electric two-wheelers sold after the scheme’s original eligibility limit was exhausted, CNBC TV18 reported.
The decision was cleared by the state Cabinet at a meeting chaired by Chief Minister Devendra Fadnavis on Tuesday. The government approved the financial assistance as a special case, citing Bajaj Auto’s contribution to Maharashtra’s industrial development and its investments in the state.
The Maharashtra Electric Vehicle Policy 2021 provides purchase-linked incentives for eligible electric vehicles across various categories. However, the policy’s ceiling of one lakh electric two-wheelers eligible for incentives across manufacturers had already been reached.
Bajaj Auto subsequently sought reimbursement for incentives covering another 66,817 electric two-wheelers sold beyond the prescribed limit. The state government has now sanctioned Rs 66.82 crore for these vehicles.
Under the policy, manufacturers initially extend the applicable incentives to eligible customers at the time of purchase and later seek reimbursement from the state government.
The scheme is aimed at accelerating electric vehicle adoption, encouraging investment in the state’s automotive sector and promoting cleaner mobility.
