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Tamil Nadu unveils e-vehicle policy

Tamil Nadu unveils e-vehicle policy


CHENNAI: Tamil Nadu chief minister Edappadi K Palaniswami on Monday unveiled the state’s electric vehicle policy 2019, offering a slew of incentives to the demand and supply side to promote electric vehicles in the state. It offers a grant of 100% road tax exemption to all e-vehicles until December 30, 2022.

The manufacture of electric vehicles, auto components, especially batteries and charging infrastructure – with investments of Rs 50 crore and above and generate 50 direct jobs — will get a special package of incentives, such as reimbursement of 100% of the SGST paid on the sale of vehicles manufactured, sold and registered for use in the state.

Also, capital subsidy of 15% will be extended over ten years for intermediate products used in the manufacture of electric vehicles and charging infrastructure, and 20% for battery manufacturing units until 2025.

The units will also get 15% subsidy on the cost of lands if they get lands from SIPCOT, SIDCO and other government agencies. They will get 50% subsidy if the investment is made in southern districts.

“Electric vehicle-related and charging infrastructure manufacturing industries will be provided 100% exemption on electricity tax till 2025… The industries that obtain land by sale or lease shall be entitled to 100% exemption on stamp duty until 2022,” the policy note said.

The state will offer employment incentive in the form of reimbursement of employer’s contribution to the EPF for all new jobs created till 2025. Moreover, additional capital subsidy of 20% will be offered over and above the eligibility limit under the existing scheme to MSME units engaged in electric vehicle component or charging infrastructure.

Exclusive electric vehicle parks will come up in major auto manufacturing hubs and in areas which have potential to attract the investments.

The government assured adequate support to develop charging infrastructure in cities and other places.

“The state power utility, Tangedco, will set up charging infrastructure on its own or through private operators using appropriate public private partnership model,” the policy said, adding that provision for charging stations would be made in commercial buildings, such as hotels, shopping malls and cinema halls. Tariff applicable for domestic consumption shall be applicable for private charging station at home.

Building and construction laws will be amended to ensure that charging infrastructure integrated at the planning stage for all new construction in the cities.

Source: timesofindia.indiatimes
Anand Gupta Editor - EQ Int'l Media Network


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