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    Tuesday, April 16, 2024

      Tamil Nadu News : State Government Introduced Multiple Incentives In New EV Policy | Details Inside

      To accelerate the electrification of automobiles and growth of the EV sector, the Tamil Nadu government has introduce new public policy with various incentives and offers.

      Apart from an investment interest of Rs 24,000 crore, Tamil Nadu has also sign an MoU for an employment potential of 48,000 jobs in the EV value chain.

      EV projects are set to offer reimbursement of Rs 48,000 (max) per employee and residents of Tamil Nadu for all new jobs create during the policy period.

      By this new policy, EV projects can take advantage of multiple incentives including 100% electricity tax exemption for five years, only if it is purchase from the Tamil Nadu Generation & Distribution Corporation Limited (TANGEDCO) or generate and consume from captive sources.

      Companies transitioning to EV manufacturing will receive financial support to upskill their workforce. 

      Amendments to building and construction laws to ensure charging infrastructure is integrate at the planning stage of new constructions in cities. 

      Commercial vehicles ranging between Rs 5,000 to Rs 10 lakh to receive incentives based on battery capacity.

      Conversion of IC engine commercial vehicles to EVs to be incentivise as well.

      Power tariff for public charging stations will be revise with new incentives for charging and battery swapping stations.

      The Tamil Nadu government has also decide to waive off road tax, registration charges and permit fees for EVs. 

      All these steps should help boost e-two-wheeler sales, and accelerate the growth of the EV infrastructure in the state.

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