The Telangana State Cabinet has approved a new Energy Storage and Electric Vehicle Policy to promote the usage, ownership, and manufacture of Electric Vehicles. This valued initiative by the government in the green mobility sector not only encourages owners and investors by giving incentives but can also mobilize manufacturing plants across the state aiming towards making Telangana a manufacturing destination. The policy also facilitates setting up associated infrastructure for electrification such as charging stations, battery manufacturing, etc. through a plethora of incentives and ease-of-use measures.
What is Telangana EV(Electric Vehicle) Policy?
The new policy provides a 100 percent exemption from road tax and registration fee for the first few purchases of electric vehicles. Below is the cap of the number of vehicle purchases in each segment that are eligible for exemptions as of now:
- 2 lakh two-wheelers
- 5,000 private cars
- 20,000 three-wheelers
- 5,000 commercial passenger vehicles such as taxi, tourist cabs
- 10,000 electric light goods carriers
- 500 electric buses
Although there is a cap, for now, the state minister promises to extend the exemption on a need basis to promote more adoption of electric vehicles. But with or without the revisions, make sure you grab your vehicles as soon as possible!!!
The comprehensive EV policy was drafted based on meticulous consultations with EV industries, manufacturing, and public policy institutions along with the Ministry of the state government. Launched on 30th October 2020 at the TELANGANA ELECTRIC VEHICLE and ENERGY STORAGE POLICY 2020-2030 launch function by the state Industries and IT Minister K.T.RamaRao alongside Transport Minister Puvvada Ajay Kumar and Forest Minister A. Indrakaran Reddy as well as senior officials, the policy launch already saw several companies that have committed to invest in a variety of EV projects. According to the Minister, apart from the announced EV cluster at Chandanvelly in RR district and Divitpally, Mahbubnagar, there are also plans to automobile clusters in Zaheerabad on 1,000 acres and development of mobility clusters that are soon to be announced.
With an outlook into the future for being a manufacturing destination, the State government is all set to provide preferential market access to the companies that would want to establish their manufacturing plants in Telangana to achieve price and performance parity from local production and higher EV adoption rates.
The policy also covers incentives for demand generation, charging infrastructures, EV manufacturing units, and also looking at incentivizing Electric Tractors to catalyze EV movement into agricultural and other sectors. The policy reveals the State government’s commitment towards the development of a complete ecosystem around EVs, including the manufacturing of batteries and other components which means the EVs and energy storage solutions sector is going to be competitive in the coming years and space to watch out for.
There is a need for the Departments of Industries, IT, Transport, and Environment to work cohesively to achieve the goals laid out in the policy objectives. Many MOUs signed by companies after the policy launch will show up in the future with ascending numbers in green mobility as well as generate direct and indirect employment opportunities for lakhs of Telangana youth in the coming years.
ERIDE heartily congratulates the Telangana Government for launching the EV policy and their pioneering efforts towards electric vehicle adoption and energy storage solutions. With Eride, you can steer into the all-electric future with a range of electric vehicles that are designed and developed for local terrains. With the standpoint of being in the Electric vehicle market for many years, we have a vantage point to find the many opportunities that electric vehicles can present in the changing phase of business in the country. We have electric vehicle projects that have been successfully providing a livelihood for many people in the state and beyond. With the launch of the new policy by the Telangana Government, we look forward to more amazing partnerships and entrepreneurship that our electric mobility company can help mobilize a new wave of business in the country.
Please visit us on eride.co.in to understand more about our electric vehicles and livelihood projects.