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Electric vehicles

Chandigarh's Revenue from Electric Vehicle Registrations Sees Steady Rise

Strategic Insights

— 1 min read

The Registering and Licensing Authority in Chandigarh has witnessed a significant increase in revenue from electric vehicle (EV) registrations over the past four years, despite offering a 100% road tax exemption on EV purchases. The revenue from EV registrations has grown more than threefold since 2022, with the department earning Rs 3.60 lakh in 2022, Rs 12.38 lakh in 2023, Rs 13.21 lakh in 2024, and Rs 9.17 lakh by the end of September in the current year. This growth is attributed to the surge in EV adoption, driven by affordable models, attractive features, and competitive pricing offered by manufacturers.

Key Takeaways:

  • The Registering and Licensing Authority in Chandigarh has seen a steady rise in earnings from electric vehicle (EV) registrations over the past four years, with a revenue growth of over 300% since 2022.
  • The department earned Rs 3.60 lakh in 2022, Rs 12.38 lakh in 2023, Rs 13.21 lakh in 2024, and Rs 9.17 lakh by the end of September in the current year from EV registrations.
  • The revenue boost is attributed to the surge in EV adoption, driven by affordable models, attractive features, and competitive pricing offered by manufacturers.
  • The rise in EV registrations is purely demand-driven, with more choices now available in both two-wheeler and four-wheeler segments.
  • The Registering and Licensing Authority collects only the registration fee for EVs, which includes charges for the registration certificate, dispatch, and any applicable financing costs.
  • The rates for registration fees vary between two-wheelers and four-wheelers, with sources within the department attributing the revenue boost to the growing popularity of EVs.

Statistics:

  • Rs 3.60 lakh: Revenue from EV registrations in 2022
  • Rs 12.38 lakh: Revenue from EV registrations in 2023
  • Rs 13.21 lakh: Revenue from EV registrations in 2024
  • Rs 9.17 lakh: Revenue from EV registrations by the end of September in the current year
  • 300%: Revenue growth from EV registrations since 2022
  • 100%: Road tax exemption offered on EV purchases

Sources:

  • Sources within the Registering and Licensing Authority in Chandigarh.
  • No specific publication or date provided.

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