Telangana rolls out EV policy to attract $4 billion investment, create 1.2 lakh jobs by 2030
As part of the EV policy, the government will be focussing on encouraging shared mobility, developing charging infrastructure and manufacturing activities to develop a conducive ecosystem for the EV sector in the state
HYDERABAD: To promote Telangana as a go-to destination for the electric vehicles (EV) sector, the Telangana government on Friday launched its EV policy that aims to attract investments to the tune of $4 billion and create 1.2 lakh jobs by 2030.
At the policy launch, the state government also inked MoUs with industry players such as Mytrah, that will be investing Rs 2,000 crore to manufacture electric buses, and Olectra, that will pump in Rs 300 crore to manufacture electric buses in the state.
As part of the EV policy, the government will be focussing on encouraging shared mobility, developing charging infrastructure and manufacturing activities to develop a conducive ecosystem for the EV sector in the state.
Besides, the state government will also focus on developing Telangana as a hub for cutting-edge research and development in EV, battery technologies and other emerging technologies such as autonomous/connected vehicles.
Apart from R&D activities, the government is also keen on offering incentives to consumers to go for EV vehicles by offering 100% exemption of road tax & registration fee for the first 5,000 private electric 4-wheelers purchased and registered in the state.
For electric buses, the state government will be offering incentives that include 100% exemption of road tax & registration fee for the first 500 electric buses purchased and registered within Telangana. Even the state transport units will be encouraged to purchase electric buses. The policy also offers incentives for tractors as it provides 100% exemption of road tax and registration for the vehicles.
The policy states that electronics manufacturing clusters (EMC) and industrial parks are being identified for promotion of EV & energy storage manufacturing companies. Currently, EMCs exist at Raviryal and Maheshwaram and a designated industrial park for energy storage units is coming up at Divitapally.