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High Price Drop Seen in Tata & Honda EVs in this State

Haryana EV policy is quite encouraging for EV buyers.

by Aishwarya Saxena

Becoming the latest state launching its EV Policy, Haryana state government has approved the new EV policy that includes various incentives and concessions for both EV manufacturers and buyers.

Haryana EV PolicyHaryana EV policy is not just going to benefit EV buyers but also hybrid vehicle buyers. As per the new policy, EVs that are priced at up to Rs 70 lakh will get a discount of 15 percent and hybrid vehicles priced below Rs 40 lakh will get a maximum discount of Rs 3 lakh.

Effectively, the Honda City Hybrid and the Tata Nexon EV Max (both priced around Rs. 20 lakh on-road) are cheaper by about Rs. 3 lakhs.

Haryana EV policy is quite encouraging for EV buyers. It should be noted that benefits that are mentioned above will be available to customers only for a limited period. The government has not mentioned the period till which these benefits will be available to customers.

These benefits are beyond the government’s FAME -II subsidies to encourage electric vehicle buyers in the state.

For example, if you are planning to buy an electric SUV which cost above Rs 15 lakh. Then you are eligible for the benefits under the new policy. The high-end XZ+ Lux variant of Tata Nexon EV costs around Rs 17.40 lakh, ex-showroom. The customer can save 15 percent on it.

This means, the owner can save around Rs 2,60,000 on the SUV right away. This brings down the price of the top-end Nexon EV to Rs 14.79 lakh. Apart from this 15 percent, EV buyer will also get a full rebate on motor vehicle tax and relaxation in registration fees.

While Centre and governments of various states are just concentrating on promoting electric vehicles, Haryana is keen in promoting hybrid vehicles too. For hybrid vehicles that are priced below Rs 40 lakh, Haryana government will offer a 15 percent or Rs 3 lakh maximum discount.

Currently we have Honda City e-HEV in the strong hybrid segment in India. Soon, Toyota and Maruti Suzuki will also be launching their Creta rival Hyryder and YFG SUV in the market with both mild and strong hybrid engines.

Haryana EV policy has thought about EV manufacturers.

The policy says that for the next 10 years, electric vehicle manufacturers will get half of their State Goods and Services Tax (SGST) reimbursed by the government.

All size of EV industry corporations in the state will also get concessions under Haryana EV policy.

Haryana government has also announced fixed incentives of up to Rs 1 crore for companies that would set up EV battery disposal units in the state.

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