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UTTAR PRADESH, 17 July 2023: The Government of Uttar Pradesh has announced a new subsidy scheme for electric vehicles (EV), in a bid to promote the adoption of clean transportation in the state.
The scheme, which is effective from 14 October 2022 to 13 October 2023, will offer a 15% subsidy on the factory price of electric vehicles purchased in the state.
The subsidy will be available for a limited number of vehicles in each category, as follows:
- Two-wheelers: The first two lakh electric two-wheelers will be eligible for a subsidy of INR 5,000 per vehicle.
- Four-wheelers: The first 25,000 electric four-wheelers will be eligible for a subsidy of INR 1 lakh per vehicle.
- E-buses: The first 400 non-government electric buses will be eligible for a subsidy of INR 20 lakh per vehicle.
- E-goods carriers: The first 1,000 electric goods carriers will be eligible for a subsidy of INR 1 lakh per vehicle.
Individual buyers are only eligible for a purchase subsidy on one two-wheeler, four-wheeler, e-bus, or e-goods carrier. Aggregators and fleet operator buyers can receive purchase subsidies on a maximum of 10 two-wheelers or four-wheelers, and a maximum of five e-buses or e-goods carriers. Each buyer can only receive the purchase subsidy once during the scheme’s effective period.
The UP-government’s e-vehicle subsidy scheme is a welcome move that will help to boost the adoption of clean transportation in the state. The scheme is expected to create jobs in the electric vehicle manufacturing and servicing sectors, and it will also help to reduce air pollution.
Uttar Pradesh is one of the leading states in India in terms of electric vehicle (EV) adoption. The state has a number of policies and incentives in place to promote the use of EVs, including a subsidy scheme for the purchase of electric vehicles. As a result, the EV market in Uttar Pradesh is growing rapidly. In 2022, the state registered over 100,000 electric vehicles, and this number is expected to grow significantly in the coming years. The EV market in Uttar Pradesh is being driven by a number of factors, including the rising cost of fuel, the increasing awareness of the environmental benefits of EVs, and the government’s support for the sector.
