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Uttar Pradesh govt announces e-vehicles policy

Wednesday, 07 Aug 2019
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The Uttar Pradesh government has announced electric vehicles (e-vehicles) policy, which targets attracting around Rs 40,000 crore in private investment over the next five years.

The policy has been cleared by the State Cabinet on 6 August 2019. The state government has estimated the e-vehicles segment will create around 50,000 new employment opportunities.

The state government has envisaged nearly 70 percent of public transport buses plying on the state roads would be electric by 2024, while about 10,000 new electric buses will be introduced for public transport.

Almost 200,000 charging stations are projected to be set up in the state over the next few years by the private sector to cater to the growing fleet of public and private e-vehicles.

The policy focuses on promoting manufacturing to e-vehicles in the state, setting up charging stations and generating demand for e-vehicles.

Under the policy, the state has offered incentives, including land cost subsidy of 25 percent, up to Rs 50 lakh subsidy on capital investment (capex) for technology transfers and Rs 25 lakh capex subsidy on charging stations to mega anchor units and ultra mega battery units.

Apart from 25 percent rebate on road tax, the policy further offers 100 percent rebate on registration of e-vehicles.

So far, Karnataka, Andhra Pradesh, Telangana, and Maharashtra have rolled out their e-vehicles policies.

 
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