Uttar Pradesh extends electric vehicles policy to 2027, offers sops including ₹350 Cr for 2- and 4-wheeler subsidies
- Under the extended policy, electric two-wheelers will receive a subsidy of ₹5,000, while four-wheelers are eligible for an incentive of ₹1 lakh. The government has allocated ₹100 crore to subsidise 200,000 two-wheelers and ₹250 crore for four-wheelers
The government of Uttar Pradesh has announced the extension of its electric vehicles policy until 2027. This extension, detailed in a recent government notification, includes various incentives to promote the adoption of electric vehicles (EVs) in the state, CNBC-TV18 reported.
Under the extended policy, electric two-wheelers will receive a subsidy of ₹5,000, while four-wheelers are eligible for an incentive of ₹1 lakh. The government has allocated ₹100 crore to subsidize 200,000 two-wheelers and ₹250 crore for four-wheelers, as reported by CNBC-TV18.
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The scheme also offers significant subsidies for larger vehicles, with private electric buses eligible for ₹20 lakh and electric three-wheelers receiving ₹12,000 per vehicle, as reported by CNBC-TV18.
Additionally, the state has maintained its policy on road tax waivers for hybrid cars. However, according to CNBC-TV18, there is yet to be a clarification on the price range for vehicles that will qualify for this waiver.
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Last week, the Uttar Pradesh government announced a complete waiver of road taxes on hybrid vehicles but later specified that this waiver would only apply to cars up to a certain price range, potentially up to ₹20 lakh. Final decisions on this aspect are still pending, as reported by CNBC-TV18.
State government officials also recently engaged with major automakers, including Maruti Suzuki, Tata Motors, Toyota, and Mahindra Group, to discuss the policy's implementation and potential impacts, as reported by CNBC-TV18.
Key Highlights of the Policy Extension:
Subsidy for electric two-wheelers: ₹5,000 per vehicle
Incentive for electric four-wheelers: ₹1 lakh per vehicle
Budget for two-wheelers: ₹100 crore
Budget for four-wheelers: ₹250 crore
Subsidy for private electric Bbuses: ₹20 lakh per vehicle
Subsidy for electric three-wheelers: ₹12,000 per vehicle
Road tax waiver: Continuation for hybrid cars, with price range clarification pending
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Business NewsAuto NewsUttar Pradesh extends electric vehicles policy to 2027, offers sops including ₹350 Cr for 2- and 4-wheeler subsidies
First Published:16 Jul 2024, 02:00 PM IST
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