Planning to buy an EV in UP? 5 ways you can benefit from new EV policy
Two years after neighbouring states like Delhi, Rajasthan and Haryana came up with their EV policies, Uttar Pradesh too now has its own. The state cabinet has approved the new EV policy called Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022 earlier this week. The policy is not only aimed to benefit private buyers of EVs, but also commercial vehicles like three-wheelers, buses and other transport vehicles.
Here is a quick look at the benefits one will be able to avail when buying a personal electric car or two-wheeler in Uttar Pradesh.
The UP government will offer complete waiver of registration fees and road tax for any electric vehicle bought and registered in the state. The benefit will be available from the day the state government formally issues a notification on the new EV policy. In case one plans to buy an EV after three years, the state government will waive off these two for someone buying an EV manufactured in the state. The benefits after two years are in line with the state government's initiative to invest more than ₹30,000 crore to become a global hub for EV manufacturing.
Besides waiving off road tax and registration fees, the UP government will also offer incentives for buying new electric vehicles in the state. Electric two-wheelers, which currently dominate the share of EV sold in India, will get maximum benefit in the state. UP government will offer subsidy worth up to ₹5,000 over the ex-showroom cost minus GST on a particular EV. According to the budget allocation, around two lakh electric two-wheeler buyers will benefit from this incentive.
For someone looking to buy an electric car can avail subsidy worth up to ₹one lakh over the ex-factory cost of the vehicle. The subsidy can be availed by the first 25,000 electric car buyers in the state.
Uttar Pradesh is also home to a large number of electric three-wheelers. In order to promote cleaner mode of transport, the state government has decided to extend the incentives to electric rickshaws and tempos with benefits up to ₹12,000 per EV. This will help around 50,000 buyers of electric three-wheelers in the state according to budget allocation.
Also check these Cars
64kWh
350 km
The EV Policy of the state also aims to transform public transport with offers to promote electric mobility. The EV policy will also offer subsidy worth up to ₹20 lakh on electric bus besides other commercial vehicles. The state government has kept aside ₹80 crore as subsidy amount to buy new electric buses. Other electric commercial vehicles will get incentives of up to ₹one lakh.
Check out Upcoming EV Cars in India, Upcoming EV Bikes in India.
