First round of capital infusion to be completed by March 2022 and the entire funds will be infused by the end of 2022
The housing societies and apartments will be encouraged to install private charging stations on their premises.
With this, Ola will accelerate the development of other vehicle platforms including electric motorbike, mass-market scooter and its electric car, a statement said.
The company also removes the financial burden of vehicle ownership by leasing vehicles to drivers and oversees all vehicle maintenance, to help reduce driver stress.
More EV charging stations will be set up in a phased manner for the development of a robust electric vehicle (EV) charging infrastructure across the state capital, said the BSCL CEO
With a certain scale, the company can then try to convince its global headquarters to re-invest in the country for setting up local manufacturing for models which are currently being imported.
The company noted that the success of electric vehicles (EVs) solely depends on the acceptance of customers at large, which is only possible with proper availability of infrastructure.
Tata Motors had entered the electric vehicle space with Tigor EV as a fleet offering, and expanded to the personal segment with the launch of Nexon EV in January 2020.
In an attempt to boost electric vehicle sales and bring down carbon footprint in Hyderabad, a series of EV Auto Expos will be organised over a three-month period, starting from October, in the city.
For the robust EV policy, the state is accessing a high level of expertise from across the country with valuable inputs for the officials in the transport department.
As per the policy, vehicle registration fees and motor vehicle tax will be waived off during the stipulated period.
Of the total amount, Rs 25,938 crore has been set aside for the auto sector, while Rs 120 crore will be offered to encourage production of drones and their parts.
Initially, close to 30 companies including Mahindra Electric, Tata Motors, Ashok Leyland, Hero Electric, and Swiggy among others attended the kick-off meeting chaired by Niti Aayog CEO Amitabh Kant.
The project will be completed and open to public within a month, said officials.
With the entire world working towards reducing carbon footprint, the Karnataka transport and energy department are also trying to address the issue by giving a boost to electric vehicles.