New Electric Vehicle policy of Odisha
The Odisha government is giving a 100% exemption on road tax and registration fees on EVs. The government will also provide a 15% subsidy for 2,3 and 4 wheeler EVs.
To accelerate the pace of adoption of electric vehicles, the government of Odisha approved the Electric Vehicle policy for the state. The primary aim of the policy is to build Odisha a model State in the promotion of EVs through adoption, adaptation, and research & development.
The goal of the policy is to:
- Encourage the use of Electric Vehicles among the public in Odisha. The aim is to achieve the adoption of 20% EVs in all vehicle registrations by 2025.
- Support the manufacturing of EVs and their parts.
- Promote innovation and facilitate R&D.
The EV policy framed by the Odisha government will remain valid for the next five years, and also the incentives will be offered in addition to the FAME II benefits.
Incentive for 2,3, and 4 wheeler EVs
Two-wheeler is the most popular segment of an automobile in Odisha. Nearly 82% of all the new vehicles comprise of two-wheelers. Similarly, three-wheelers consist of 3.06%, and Cars include 7.04% of total registered vehicles.
To increase the adoption of EVs, the government is now giving subsidies on the purchase of 2,3, and 4 wheelers.
2-wheelers will get 15% of subsidy up to ₹ 5,000.
3-wheelers will get a 15% subsidy up to ₹ 12,000, and 4-wheelers will also get a 15% subsidy up to ₹ 1,00,000.
To get the benefit of the incentive, electric two-wheelers have to fulfill the following criteria:
- Min. top speed- 40km/h
- Min. acceleration- 0.65m/s2
- Max. electric energy consumption- Not exceeding 7kWh/ 100km
- Warranty- At least three years warranty, including that of battery from the manufacturer.
Also, the government has given a 100% exemption in road tax and registration fees on EVs.
Under this policy, the government will give interest-free loans to State Government employees to buy Electric Vehicles.
Subsidy for electric buses
The government of Odisha is aiming to have 50% electric city buses in the next five years. A subsidy of 10%(max ₹ 20,00,000) will be given to buyers of passenger buses.
For the next five years, the buyers will not have to pay the State GST on buying and registering electric buses.
Subsidy for goods carriages
Individual and fleet Owners will be given a purchase incentive of ₹ 30,000 to the first 5000 electric goods carriers.
Also, the buyers will get the benefit of 100% exemption on SGST, road tax, and registration fees.
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