Jul 16, 2024 05:04 PM IST
Uttar Pradesh extends Electric Vehicle Policy till 2027, offers subsidies and incentives to promote clean mobility solutions.
The Uttar Pradesh government extended its Electric Vehicle Manufacturing and Mobility Policy till 2027, CNBC TV. With this, the government has extended the availability of subsidies and incentives outlined in the policy for an additional three years.
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The policy was launched in October 2022 and is aimed at promoting clean mobility solutions and establish a supportive environment for EV adoption in the state.
The extension comes after Uttar Pradesh exempted all hybrid vehicles from road tax and registration fees which will increase the savings of buyers.
What are the benefits of the scheme?
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As per the scheme, EV buyers will get ₹5,000 for two-wheelers and up to ₹1 lakh for fully-electric cars by the Uttar Pradesh government. The scheme also offers ₹20 lakh for private electric buses and ₹12,000 per electric three-wheeler.
The New Electric Vehicle Manufacturing and Mobility Policy, 2022, provides financial benefits to individuals who purchase EVs as it makes them more affordable. Under the scheme, EV manufacturers also get benefits as Uttar Pradesh aims to promote investment and production within the state while the government is also incentivizing service providers.
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As per the scheme, electric two-wheelers get a subsidy of ₹5,000 while 4-wheelers are eligible for an incentive of ₹1 lakh. The scheme provides a subsidy of ₹20 lakh for private electric buses and ₹12,000 per vehicle for e-three-wheelers.
