Bajaj Auto Gets Rs 66.82 Crore Additional EV Incentive Funding From Maharashtra

The Maharashtra government has approved Rs 66.82 crore in additional incentive funding for Bajaj Auto under the Maharashtra Electric Vehicle Policy-2021. The decision was taken at a cabinet meeting chaired by Chief Minister Devendra Fadnavis.

Under the policy, incentives are provided for eligible new electric vehicles registered in the state. Manufacturers extend these incentives to buyers at the time of sale and subsequently seek reimbursement from the government.

The state-level incentive ceiling of one lakh electric two-wheelers had already been reached through the combined sales of manufacturers operating in Maharashtra.

Bajaj Auto had sought additional funding to cover incentives for 66,817 vehicles beyond the existing allocation. The state cabinet approved the additional Rs 66.82 crore as a special provision under the policy, citing the company’s contribution and investment in the industrial sector.

The approval allows additional incentive funding to be provided for the specified vehicles despite the original two-wheeler allocation having been exhausted.