Tuesday, January 31, 2023
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    5 ways the new EV Policy will Help you Purchase an EV in UP

    Uttar Pradesh now has its own EV policy, two years after neighboring states like Delhi, Rajasthan, and Haryana introduced theirs. The Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022 was approved by the state cabinet. The strategy is intended to help commercial vehicles like three-wheelers, buses, and other transport vehicles as well as private EV consumers.
    Here is a quick look at the advantages one might get in Uttar Pradesh while purchasing a personal electric vehicle or two-wheeler.

    1. Any electric vehicle purchased and certified in the state will receive a full remission of registration costs and road tax. The incentive will start to be offered on the day that the state government formally announces the new EV policy. The state government will waive these two fees for anyone purchasing an EV made in the state if they decide to purchase one after three years. The advantages after two years are consistent with the state government’s intention to invest more than 30,000 crores to establish a hub for EV manufacturing around the world.

    2. The UP Government will provide incentives for purchasing new electric vehicles in the state in addition to waiving off road tax and registration fees. In the state, sales of electric two-wheelers, which now account for the majority of EVs sold in India, would be at their highest. The Yogi government will provide a subsidy on a specific EV up to Rs. 5000 over the ex-showroom cost less GST. Around two lakh buyers of electric two-wheelers will benefit from this incentive, per the budgetary provision.

    3. Anyone wishing to purchase an electric vehicle may qualify for a subsidy worth up to one lakh rupees over the vehicle’s ex-factory price. The state’s first 25,000 purchasers of electric vehicles are eligible for the subsidy.

    4. Additionally, there are a lot of electric three-wheelers in Uttar Pradesh. The state administration has agreed to expand the incentives to electric rickshaws and tempos with advantages of up to 12,000 per EV in order to promote cleaner modes of transportation. According to budgetary allocations, this will assist about 50,000 buyers of electric three-wheelers in the state.

    5. The state’s EV Policy also seeks to transform public transportation by making offers to support electric mobility. Along with other commercial vehicles, the EV program would also provide electric bus subsidies valued at up to 20 lakh. For the purpose of purchasing new electric buses, the state government has set aside 80 crores as a subsidy. Up to one lakh rupees in incentives would be given to other electric business cars.