UP Govt Announces Subsidies For EVs | V3Cars
Over the years, state governments across the country have been rolling out various subsidies for promoting the mass adoption of electric vehicles. Now, the Uttar Pradesh government has rolled out a new electric vehicle policy with subsidies for 2-wheeler and 4-wheeler electric vehicles.
Subsidies For 4-wheeler EVs
All EVs, regardless of their segments, sold within the first 3 years from the effective period of the new policy get 100 % exemption on road tax and registration fees. If the EV is manufactured in the state, the exemption will extend to the 4th and 5th year as well. Furthermore, the government will also offer subsidies of up to Rs. 1 lakh for the first 25,000 customers.
The state government also revealed a capital subsidy for the first 2,000 charging station service providers and 1,000 battery swapping stations to boost charging and battery swapping facilities across the state. In the case of a charging station, a maximum subsidy of Rs. 10 lakh will be given whereas a maximum subsidy of Rs. 5 lakh will be provided in case of one battery swapping station.
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Speaking of other subsidies, 2-wheelers get a 15% subsidy on factory cost, with a maximum amount of Rs. 5,000 for the first 2 lakh EVs sold. In case of electric 3-wheelers, the state government will offer a subsidy of up to Rs. 12,000 for the first 50,000 EVs sold. Lastly, the first 400 electric bus purchases will get subsidies of up to Rs. 20 lakh.
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With the new Electric Vehicle Policy, the Uttar Pradesh government aims to promote the sales of electric vehicles while also opening up opportunities for EV manufacturing options. The policy aims to attract investments worth over Rs. 30,000 crore and generate direct and indirect employment for over a million people.
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ABOUT THE AUTHOR
Amit Saraswat
Born and brought up in Agra, he grew up reading magazines more than textbooks. With a keen interest in cars, he decided to make his future in automotive journalism and is currently helping in content at V3Cars.
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