Odisha hikes incentives to promote EV
Odisha hikes incentives to promote EV
The Odisha government released a notification on Wednesday proposing the revision of the Odisha Electric Vehicle Policy, 2021.
The government has enhanced the subsidy with this modification on the purchase of two-wheeler, three-wheeler, and four-wheeler electric vehicles to achieve large-scale adoption of Electric Vehicles in the State and to maximize the reduction of vehicular pollution.
The modification in the policy is attention on incentivizing the purchase and use of Electric Vehicles particularly in the segment of two-wheelers, public/shared vehicles, and goods carriers.
The state framed the EV policy in 2021, to adopt 20% electric vehicles by the end of 2025 as a measure of vehicular pollution reduction.
“However, it is found that about 4.48 percent of electric vehicles have been registered by the end of 2022 which is not satisfactory in comparison to the policy objective,” said the official statement.
As a result, the state has changed clause 4.1.1 of the EV policy to encourage EV sales in Odisha. It has provided various forms of subsidies for three types of automobiles.
According to the legislation, the state will provide a maximum subsidy of Rs 20,000 for each two-wheeler. It is capable of providing a subsidy of Rs 5000 per kilowatt hour.
Previously, the state government offered a Rs 5000 incentive for each two-wheeler.
A four-wheeler, on the other hand, can receive a subsidy of Rs 10,000 per kilowatt hour, with a maximum ceiling of Rs 1.5 lakh per vehicle. Previously, the reward was a flat Rs 50000.
The government would provide a Rs 30,000 (flat) subsidy for three-wheelers. Previously, there was no such subsidy for this type of car.
The Odisha government decided to increase the subsidy on the purchase of electric vehicles in the state during a state cabinet meeting chaired by chief minister Naveen Patnaik on Monday.
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Content Credit: ETAuto
