New policy implemented by Uttar Pradesh government for Electric Vehicles.
The Government of Uttar Pradesh announced a new policy offering more benefits to EV buyers over the existing nationwide FAME II scheme. The policy provides subsidies to EV buyers in the state by giving concessions on registration fees and road tax compared with the State’s 2019 EV policy.
As per, EV buyers get 15 percent subsidy on the ex-showroom price of an EV. This subsidy can be a maximum of Rs 5,000 for electric two-wheelers and up to Rs 1 lakh for an electric car. Under the policy, two lakh two-wheelers and 25,000 cars will be covered.
Also, EV buyers get a full exemption from the registration fee, They also get a full waiver on road tax for up to three years, or five years if the EV is manufactured in UP. (Insurance and other charges will be extra) and the subsidies provide as reimbursement, not as an upfront discount.
Under the FAME II scheme, buyers of EVs in Uttar Pradesh will also get benefits that provide a subsidy of Rs 10,000 per kWh of the battery capacity or up to Rs 1.5 lakh for electric cars by the end of 2022.
As the state is very large, it is very important that the government should consider providing charging stations. offering a subsidy of up to Rs 10 lakh per charging station for the first 2,000 stations. Up to 1,000 battery-swapping stations will also get a benefit of Rs 5 lakh each