HYDERABAD: Want to buy a new vehicle? Here is an attractive offer from the State government. Buy an Electric two-wheeler or four-wheeler and get 100 per cent exemption of road tax and registration fee. The State Cabinet on Wednesday approved the Electronic Vehicle (EV) policy, which aims to make the State a preferred destination for EVs and energy-storage sectors.
As part of the policy, the first two lakh electric two-wheelers and first 5,000 units of four-wheelers will get 100 per cent exemption of road tax and registration fee. Electric three seater auto-rickshaws will also get 100 per cent exemptions of road tax and registration fee for the first 20,000 vehicles.
Retro fitment incentive at 15 per cent of the cost capped at Rs 15,000 per vehicle for first 5,000 units will also be provided for the rickshaws. Electric light goods carriers (including three-wheelers) will get the same exemptions for the first 10,000 units, as will the first 5,000 private electric cars and first 500 electric buses.
For EV industries, 20 per cent capital investment subsidy capped at Rs 30 crore, power tariff discount of 25 per cent capped at Rs 5 crore, 100 per cent reimbursement of SGST up to Rs 25 crore for seven years, interest subvention of 5.25 per cent for five years capped at Rs 5 crore and other exemptions like stamp duty will be given.
The country’s leading electric bus manufacturer Olectra Greentech and electric three-wheeler manufacturer Gayam Motor Works have their manufacturing bases in the state. In addition to this, energy firm Mytrah, and Li-Ion cell/battery manufacturers Exicom and Charge XO have expressed interests to set up their plants in the State. The proposed investment is Rs 4,600 crore with employment to be generated for 4,195 persons.
Telangana is establishing an energy park at Divitipally and create a new EV Park, while utilising existing EMCs at Raviryal and Maheshwaram. The estimated total investments in the State are Rs 30,000 crore. Direct employment for 1.2 lakh persons will be generated.
Total incentives provided are Rs 825.45 crore. Land required for the policy is 775 acres. Consumers too will get benefits, as their total savings on running costs and maintenance for 15 years is pegged at Rs 22,588 crore. Reduction in CO2 emissions is 6.61 Terra grams (661 crore kg).