Haryana's New EV Policy Can Save You Lakhs On A New Electric Car–For A Limited Time

• Electric vehicles priced at up to Rs 70 lakh will get a 15 percent discount. 

• Hybrid cars priced below Rs 40 lakh will be discounted by up to Rs 3 lakh. 

• These discounts are valid only for early bird buyers and will be discontinued later. 

• EV buyers will also get a full rebate in motor vehicle tax and relaxation in registration fees. 

• Substantial incentives to small, medium and large EV component manufacturers and OEMs. 

The Haryana government has approved the state’s electric vehicle (EV) policy which offers various incentives and concessions to EV buyers and manufacturers alike. Moreover, it goes beyond the government’s FAME-II subsidies to offer substantial limited-time discounts on new electric vehicles priced at up to Rs 70 lakh. 

How much can you save on an EV in Haryana? 

Haryana residents will get a discount of up to 15 percent on purchasing a new electric vehicle. In the case of electric cars, if you buy an EV priced between Rs 15 lakh and Rs 40 lakh, you’ll get a 15 percent discount at a maximum of Rs 6 lakh. 

Imported electric vehicles are subjected to hefty custom duties and taxes in India. To offset that, Haryana’s new EV policy offers a 15 percent discount of up to Rs 10 lakh for electric cars which cost between Rs 40 lakh and Rs 70 lakh. 

The central government as well as most other state EV policies only cover all-electric vehicles, but Haryana stands out. It’ll provide a 15 percent discount of up to Rs 3 lakh for hybrid cars priced at under Rs 40 lakh. 

Haryana’s substantial early bird concessions are meant to boost EV adoption in the state, but they’ll be offered for a limited time period that hasn’t been specified yet. Nonetheless, electric vehicle buyers will continue to get relaxations and discounts on Motor Vehicle Tax and registration fees. 

Substantial concessions for the EV manufacturing industry

For the next ten years, electric vehicle manufacturers will get half of their state goods and services tax (SGST) reimbursed by the government. All sizes of EV industry corporations in the state – micros, small, medium, large and mega – will get concessions under Haryana’s EV policy. 

Even EV battery disposal units are covered with fixed incentives of up to Rs 1 crore for setting up a facility in the state. 

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Haryana’s new EV policy is a progressive move by the state to increase EV adoption. Uday Narang, the founder of Faridabad-based EV manufacturer Omega Seiki Mobility, responded to the policy by saying, “I think that this move will promote electric vehicles in the cargo as well as in the passenger segment.” 

“The Haryana Government's move to offer 100% rebate on motor vehicle tax on buying an EV 3-wheeler is a step in a positive direction. Besides, 50% exemption on state GST for OEMs will prove to be a solid support. Hope more states follow this,” he added.