In a bid to promote the development of electric vehicles, Tamil Nadu released the Electric Vehicle Policy, 2019 on Monday. Chief Minister Edappadi K. Palaniswami unveiled the ambitious policy of Tamil Nadu administration.
Tamil Nadu ministers such as M.C. Sampath and M.R. Vijayabhaskar were also present when the Chief Minister released the policy. An official release read “The Tamil Nadu Electric Vehicle Policy 2019 has been prepared to promote manufacturing of electric vehicles with a view to safeguard the environment and reduce air pollution.”
The released policy is expected to generate employment opportunities for around 1.5 lakh people. It will also be helpful in attracting Rs. 50,000 crore in the sector. The policy is framed to overhaul the electric vehicle ecosystem in the state. The policy is also expected top resulted in a cleaner & less polluted environment.
Major SOPS of the policy-
- Various concessions and offers have been given to the users of electric vehicles. The policy ensures 100% road tax exemption till December 30, 2022. For two-wheeler electric vehicles, the registration fee is waived off.
- Reimbursement of state GST and subsidy on land cost will be provided for electric vehicles projects. Cost of the land not exceeding 20% of the total eligible investments will be calculated for the purpose of capital subsidy offer.
- Separate registration plates for the electric vehicles will be there. For all electric-vehicles, the registration number will be shown in white on a green background for all other EVs.
- An Electric-vehicle park with plug-and-play facilities will also be created as per the policy guidelines. The park will be set up in major auto-manufacturing hubs. It will be a unique feature in the policy.
- For those units involved in manufacturing electric-vehicles, special packages of incentives will be given. The units that will invest over Rs. 50 crores and employ over 50 people in its establishment will be eligible for these incentives. The policy states that the investments made from April 1, 2018, will be eligible for availing the benefits. However, concessions will be applicable only for investments made till 2025.
- Capital subsidy of 15% would be given on eligible investments over 10 years.
The state government has also promised to install several charging infrastructures in public places. It is expected that in order to set up such facilities, the government will take the help of TANGEDCO, the state-run power utility.