Telangana Ministers KT Rama Rao and Ajay Kumar on Friday announced a new electric vehicle policy to push the niche automobile category to the mainstream. In a big push for e-vehicles, the Telangana government has offered attractive schemes that will benefit first-time buyers and even create jobs in the state.
Under the new State Electric Vehicle and Energy Storage Policy, first time buyers of electric vehicles will get 100 percent exemption of road tax and registration fee for the first two lakh electric two-wheelers bought and registered within the state. The new policy will be effective from 2020 to 2030.
"To make Telangana a major base for EV and ESS (energy storage system) sectors and to attract investments worth USD 4.0 Billion and create employment for 120,000 persons by 2030 through EVs in shared mobility, charging infrastructure development and EV and ESS manufacturing activities," the policy said.
Incentives, jobs and more
In addition to electric two-wheelers, the policy also gives 100 percent exemption on road tax and registration fee for electric tractors purchased and registered within the state. These incentives will give a much-needed push for EVs, battery solutions.
What's important for electric vehicles to succeed in India is a state-wide network, which the state government is facilitating by setting up the initial batch of fast charging stations in Hyderabad and other towns. This will be rolled out in a phased manner, which will be supported not just by the government but also by private players in the sector.
The policy encourages advanced research and innovation in electric vehicles, battery technologies and other emerging technologies such as autonomous and connected vehicles. In addition to the development, this new policy will create job opportunities in the state. With an investment of Rs 200 crore in plant and machinery or providing employment to more than 1,000 people. The government has already signed MoU with five firms to bolster investments in the EV space.
"Telangana has come out with an extremely comprehensive policy. We also ensured that energy story policy is clubbed in with the EV policy because these two are tight-knit ideas which need to work cohesively...we have taken a pragmatic approach while designing this policy and consulted industry leaders," Rama Rao was quoted as saying at unveiling the policy, according to PTI.