Electric Vehicle (EV) bandwagon is catching up in India. Now a days we could see a lot of EVs on the road. Electric buses, cars, two-wheelers are quite commonly seen while there are also electric commercial vehicles in the market. While it has taken a bit of time for Indians to adopt this cleaner mode of automobiles, Indian government has put a lot of efforts along with auto manufacturers and OEMs to come on this long rope. The government has been offering massive incentives on taxes for keeping the cost competitive and bring more consumers to the net. The infrastructure for charging EVs also is getting robust day by day with new players coming and investing into it.
Now it’s show of Uttar Pradesh state government, the cabinate of UP this week has passed the ‘Uttar Pradesh Electric Vehicle Manufacturing & Mobility Policy 2022’ .
The new EV policy will provide benefit to individuals for buying cars and two-wheelers, also will benefit individuals buying commercial vehicles and big time benefit to transporters who run fleets. Once the policy comes to effect, UP government will provide full waiver of registration and road tax for new vehicles bought and registered in their state. Electric two-wheelers which have seen large adoption for urban commute will get the maximum benefit. The subsidies can range between Rs. 5,000 to Rs. 1,00,000 depending on the type of vehicle selected. The policy also has provisions for providing incentives for those who are planning to buy after two to three years.
Overall UP has set aside benefit worth nearly rupees 80 Crores under this scheme over three years. This is a big move for attracting consumers, manufacturers, OEMs and investors.
Good to see such futuristic approach of the state government leadership towards clearner fuel.