GG Engineering to benefit from new EV policy of Maharashtra Government
The Government of Maharashtra has recently unveiled a new progressive electric vehicle (EV) policy that will go a long way in the sustainable growth of the economy. One of the companies that will be beneficiaries of such a policy is GG Engineering. The policy is pro-manufacturing companies as it plans to attract EV manufacturing companies and allied businesses to the state by offering incentives to industries as well as to consumers. Under this initiative, the government has allocated Rs 930 crore for promotion and developing an overall EV ecosystem in the state till 2025.
GG Engineering had recently announced the launch of its new product line, the EV charging station. With a view to expanding its product line, the company has developed an EV charging station from 3 KW to 22 KW. The company will commence manufacturing EV charging stations. These stations shall be used to charge 2/3/4 wheeler vehicles. The production & distribution network will start in three months while the product will be completely ‘Made in India’.
Maharashtra Government aims of making electric vehicles achieve a 10 per cent share of total registrations by 2025, among others. As per the policy, the state government targets 25 per cent EV adoption in public transport and last-mile delivery vehicles in six key cities i.e. Mumbai, Pune, Nagpur, Aurangabad & Nashik in the stipulated time. In addition, the government also aspires to deploy an all-electric fleet in government vehicles starting from April 2022.
The government will also offer incentives to set up 2,500 charging stations in key cities and major highways in the state through subsidy incentives. In order to make it more acceptable among the general public, it is suggested that new real estate projects will be mandated to set up EV charging-ready parking sites, as per the policy.
The new policy provides a boost for battery production. The government will establish at least one Gigafactory in the state for producing advanced chemistry cell batteries. The revised EV policy encourages innovation, research & development along with skill development.