This Indian company will pay ₹3 lakh incentive to employees to buy an EV

JSW Group, one of the top corporate houses, has announced a New Year incentive for its employees. The company will offer ₹3 lakh to its workers who will buy an electric vehicle starting January 1.

This is the first initiative of its kind by a major Indian corporate house. The incentive scheme announced JSW Group is applicable to all its employees across India. The company issued a statement on Monday which read, "Aligned with India’s Nationally Determined Contributions (NDCs) and Sustainable Development Scenarios (SDS) of The International Energy Agency (IEA), Mumbai-based multi-billion-dollar conglomerate The JSW Group has unveiled their latest Green initiative JSW Electric Vehicle (EV) Policy for its employees across India."

The EV policy announced by the JSW Group includes purchase of both two- and four-wheeler electric vehicles. Not only that, the company will also offer free-of-cost dedicated charging stations and parking slots for electric vehicles at all JSW offices and plant locations for the employees. The company said that the policy is aimed to promote the adoption of electric vehicles among the employees.

Sajjan Jindal, Chairman at the JSW Group, said, “Since our honourable Prime Minister announced at Glasgow COP26 meeting that India strives to reach net-zero carbon emissions by 2070, JSW Group’s new EV Policy is a unique initiative leading to increased adoption of EVs in India and enabling access to green mobility. We would continue to move ahead responsibly, singularly focused on reducing our own impacts, while being pioneers in the sustainability domain. The goal is to build ambition among corporate and government bodies to support India’s transition to net-zero by 2070."

Dilip Pattanayak, President and CHRO at the JSW Group, said, “As electric vehicles are more efficient than traditional IC engine vehicles, the JSW EV policy, effective January 2022, will set a benchmark for others to follow. EVs are not only environmentally-friendly but also cost-effective."

JSW Group is involved in various sectors, including steel, energy, infrastructure, cement, paints, venture capital and sports. Besides announcing the EV policy for employees, which will help them do its bit to contribute in EV adoption in the country, the company also has set itself a CO2 emission target for itself. JSW Steel, which is part of the JSW Group, has adopted a climate change policy and set an ambitious CO2 emission reduction target of 42 per cent over the base year of 2005 by 2030.