KTR announces new electric vehicle policy, large investments in pipeline

0

With an aim to promote clean energy and faster transition to e-mobility, the Telangana government on Friday has announced a new electric vehicle policy becoming only the third state in the country to do so.

Unveiling the new policy, IT and MAUD minister K T Rama Rao said the Electric Vehicle Policy will make Telangana a hub for electric vehicles in future. As per the new policy, electric vehicle manufacturers will be given various subsidies, GST reimbursements, power tariff subsidies, and special power tariff for EV charging stations.

“With the Telangana government’s policy, a large number of Electric Vehicles will show interest to set up their units in the state. We can expect big-ticket investments from EV makers. Battery manufacturers have also evinced keen interest to set up their units in the state,” K T Rama Rao said. The IT minister said the government will set up one charging station for every 50kms.

He said the government will give exemptions on road tax and registration fees to EV owners, the policy will also offer incentives to OEMs to manufacture electric vehicles in the state.

“In the last five years, the state could attract $2.8 billion worth investments,” he said via video-conference which was attended by industry biggie Anand Mahindra and Niti Aayog CEO Amitabh Kant .

Telangana is the only other state in the country apart from Delhi and Gujarat to unveil a comprehensive policy for electric vehicles.

In August, the state cabinet cleared the EV policy which exempts road tax and registration fees for the first batch of two lakh electric two-wheelers, 5,000 electric cars, 20,000 electric commercial vehicles and 500 electric buses. Around 10,000 electric light commercial vehicles (LCVs), including tractors, will get the benefit of the new electric vehicle policy.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.