As per the Maharashtra government's recently introduced EV policy, the Ola S1 and S1 Pro should be eligible for up to Rs 25,000 of state subsidy.
- Only the first 1 lakh electric two-wheelers will be subsidised
- A scrappage incentive of Rs 7,000 can also be availed
- Ola will contact buyers closer to the delivery date
Buying an EV is more enticing than ever today, and a big contributor to this are the rather generous subsidies being offered by the government at the state and central level. Like many others, we have booked an Ola S1 Pro and here's what we have learned so far.
Maharashtra EV two-wheeler subsidy
Under the newly introduced 2021 Maharashtra EV Policy, our S1 Pro should be eligible for a subsidy of up to Rs 25,000, but the Ola app only shows a Rs 5,000 subsidy, with some rather confusing subtext that reads 'To be claimed separately by you'. We reached out to Ola for clarification, and here's what we learned.
Ola tells us that buyers can either opt in or opt out from the state subsidy. The company will get in touch with you individually closer to the time of delivery, to confirm whether you would like to avail the state subsidy or not. It does not mean that buyers have to individually approach the government to claim the subsidy. Should you wish to avail it, Ola will request for the required documentation from you, which, once approved, will allow them to issue the subsidy to you.
Under the Maharashtra EV policy, two-wheelers are entitled to a subsidy of Rs 5,000/kWh, capped at Rs 10,000. Since the S1 and S1 Pro get 2.98kWh and 3.97kWh batteries respectively, they are both qualified to receive the maximum subsidy amount of Rs 10,000.
Additional Early Bird incentive
In addition to this, the policy also offers an Early Bird incentive of Rs 5,000/kWh over and above the standard subsidy amount for EVs purchased before December 31, 2021. This incentive is capped at Rs 15,000, so should your Ola e-scooter be delivered before the end date, you can receive a total rebate of Rs 25,000 (Rs 10,000 under the standard subsidy + Rs 15,000 Early Bird incentive). In addition to this, there is also a scrappage policy that offers Rs 7,000 in exchange for your old petrol-powered two-wheeler.
Ola says the Rs 5,000 state subsidy amount mentioned in its app is just an indicative amount, and the exact amount will be disclosed to customers when they are contacted closer to the delivery date.
However, there is no guarantee that you will receive this entire subsidy or indeed any of it. And that's because the Maharashtra subsidy document states that it will only incentivise the first 1,00,000 electric two-wheelers sold. With the recent popularity levels that electric two-wheelers are experiencing, it may not be long before all 1,00,000 slots are used up. What happens after that remains to be seen.