Here’re The Top 5 Takeaways From The UP Government’s New EV Policy
This move will encourage more electric car buyers in the state and also improve its charging infrastructure
The Uttar Pradesh Government has introduced its new EV policy, which aims to encourage more EV buyers, improve the charging infrastructure, and also attract investments worth over RS 30,000 crore to the state. States like Haryana, Gujarat, and Maharashtra have already introduced their own EV policies as well.
Here are the top five takeaways of Uttar Pradesh’s new electric vehicle policy:
No Registration Fee And Road Tax
All electric vehicles get 100 percent exemption from payment of registration fees and road taxes. This exemption will be valid for three years from the effective date of this EV policy. If an EV is manufactured in Uttar Pradesh then the exemption is extended for two more years.
Also Read: Top EV-friendly States In India That Offer The Best Incentives To Electric Car Buyers
Heavy Subsidies
The state government is offering a subsidy of 15 percent on the ex-factory cost or up to Rs 1 lakh for every electric car. The allocated budget for this is 250 crores and this subsidy is subject to the first 25,000 units sold.
Benefits For Government Employees As Well
The government employees switching to EVs will be allowed for an advance by the state.
Also Read: Tata Tiago EV vs Tiago CNG: Which One Is More Economical For Daily Usage?
Encouraging Local Battery Manufacturing
To increase the local manufacturing of batteries, the Uttar Pradesh government is offering a capital subsidy of 30 percent, subject to Rs 500 crore (max.) per project. The subsidy will be available to two projects having an investment of Rs 1,500 crore or more. The manufacturing plant will need to have atleast 1GWh production capacity.
Improving The Charging Station Network
The government also has plans to promote the charging infrastructure across the state. For the first 2,000 charging stations, the state is offering a capital subsidy of up to Rs 10 lakh per station. Importance to battery swapping stations is also given as the first 1000 swapping centres will be awarded a capital subsidy of up to Rs 5 lakh per station.