The state cabinet of Telangana has given a nod to the Electric Vehicle Policy on Aug 5. The move is aimed to promote the use of electric vehicles among people as the first two lakh electric two-wheeler and as many as 5000 units of electric four-wheelers will be getting a cent percent exemption on road tax and registration fee. Moreover, the electric three-seater auto-rickshaws will also get the waiver on the first 20,000 vehicles and electric light goods carriers (including three-wheelers) will get the same exemptions for the first 10,000 units, as will the first 500 electric buses.
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Further, the new policy for EVs includes benefits like 20 percent capital investment subsidy up to Rs 30 crore, discounts on power tariff of about 25 percent up to Rs 5 crore, 100 percent reimbursement of SGST capped at Rs 25 crore for seven years, the interest subvention of 5.25 per cent for a period of five years up to Rs 5 crore and other exemptions like stamp duty.
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The Government of Telangana is also establishing an energy park at Divitipally and is to create a new EV Park utilising existing EMCs at Raviryal and Maheshwaram. The estimated cost for the project is around Rs 30,000 crore, however, with the project in place will create direct employment for about 1.2 lakh people. The overall incentives provided totals up to Rs 825.45 crore. The consumers will also benefit from the move as their total savings on running costs and maintenance for a period of 15 years is pegged at Rs 22,588 crore.
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