Chennai : The much-awaited electric vehicle policy has been released by the Tamil Nadu government on Monday. The electric vehicle policy is drafted to attract Rs. 50,000 crore investments in EV manufacturing and create 1.5 lakh new jobs.
Chennai : The much-awaited electric vehicle policy has been released by the Tamil Nadu government on Monday. The electric vehicle policy is drafted to attract Rs. 50,000 crore investments in EV manufacturing and create 1.5 lakh new jobs.
The policy was launched by Chief Minister Edappadi K Palaniswami in Chennai. The Tamil Nadu Electric Policy 2019 is drafted to make Tamil Nadu the preferred destination for EVs and component manufacturing units including battery and charging infrastructure.
The policy reveals that all EVs including two and three-wheelers, cars, buses and commercial vehicles will get 100 per cent road tax exemption till the end of 2022.
Special incentives will be granted to the EVs and their components manufacturers with a minimum investment of over Rs. 50 crore and employment opportunity for 50 people.
Another major feature is the 100 per cent refund of SGST for EVs made and sold in Tamil Nadu until 2030. Adding to this until 2025, a capital subsidy of 15 per cent and 20 per cent will be offered for investments in EV manufacturing and battery production units.
The Tamil Nadu government has also planned to develop exclusive EV parks in major auto manufacturing hubs and also in other favourable areas. Another feature as per the policy is that there will be a 15% subsidy on the cost of the land deemed for an electric vehicle or parts production investments. In addition to this, projects started in southern districts will get 50 per cent subsidies until 2022.
It is stated that there will be a 100 per cent exemption from stamp duty for the purchase of land and 100 per cent exemption from electricity tax to establish EV and EV part units production units in Tamil Nadu.
It is planned that TANGEDCO will work on creating charging infrastructure on its own or through public-private partnerships. The government has decided to amend building and construction laws to ensure charging infrastructure is incorporated in the planning stage of the new apartments and buildings.
The policy was launched by Chief Minister Edappadi K Palaniswami in Chennai. The Tamil Nadu Electric Policy 2019 is drafted to make Tamil Nadu the preferred destination for EVs and component manufacturing units including battery and charging infrastructure.
The policy reveals that all EVs including two and three-wheelers, cars, buses and commercial vehicles will get 100 per cent road tax exemption till the end of 2022.
Special incentives will be granted to the EVs and their components manufacturers with a minimum investment of over Rs. 50 crore and employment opportunity for 50 people.
Another major feature is the 100 per cent refund of SGST for EVs made and sold in Tamil Nadu until 2030. Adding to this until 2025, a capital subsidy of 15 per cent and 20 per cent will be offered for investments in EV manufacturing and battery production units.
The Tamil Nadu government has also planned to develop exclusive EV parks in major auto manufacturing hubs and also in other favourable areas. Another feature as per the policy is that there will be a 15% subsidy on the cost of the land deemed for an electric vehicle or parts production investments. In addition to this, projects started in southern districts will get 50 per cent subsidies until 2022.
It is stated that there will be a 100 per cent exemption from stamp duty for the purchase of land and 100 per cent exemption from electricity tax to establish EV and EV part units production units in Tamil Nadu.
It is planned that TANGEDCO will work on creating charging infrastructure on its own or through public-private partnerships. The government has decided to amend building and construction laws to ensure charging infrastructure is incorporated in the planning stage of the new apartments and buildings.