Telangana ups the ante for electric vehicles
It just needs a push and a shove said minister K T Rama Rao but the government is doing much more than that to make a foray into the electric vehicle segment as it launched a comprehensive electric vehicle policy after Delhi and Gujarat thus becoming the third state to have a dedicated policy.
In a bid to give a boost, the policy offers 100 per cent exemption of road tax and registration fee for the first two lakh electric two-wheelers purchased and registered within the state.
The biggest drawback noticed in the EV segment has been the lack of charging stations which has been the cause for the slow penetration in other states. To tackle this issue, the government would facilitate setting up of initial batch of fast charging stations in Hyderabad and other towns in a phased manner, by state entities and private players.
If all goes as per plan, experts say that more than 1,000 people would get employment. Plans are afoot to set up a Rs 200 crore plant. Eventually by 2030, 1.2 lakh persons would get employment.
Earmarking land to an extent of 400 acres for companies offering storage solutions is one of the proposals. Few companies have already evinced interest as the government has extended land at concessional rate, GST benefits, power subsidy and interest subvention.
- To attract investments worth USD 4.0 Billion and create employment for 120,000 persons by 2030
- Major thrust through EVs in shared mobility, charging infrastructure development and EV and ESS manufacturing activities
- 100 per cent exemption of road tax and registration fee for the first two lakh electric two-wheelers purchased and registered within the state
- Olectra signed an MoU regarding a ₹300 crore electric bus manufacturing project, which is expected to generate employment for 3,500 people
- The government on Friday signed MoUs with five firms which are set to invest in the EV space
- Mytrah Energy signed an MoU for an electric bus manufacturing unit with an investment of ₹ 2,000 crore
- Three-wheeler EV maker ETO Motors signed an MoU for a manufacturing unit with an investment of ₹150 crore
