Haryana government approves State Electric Vehicle (EV) Policy 2022: Incentives, subsidies and more

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Haryana government has finally given green signal to its State Electric Vehicle (EV) Policy 2022. The EV policy provides incentives, reimbursements, ancillary and more benefits to EV manufacturers. This decision was taken in a meeting chaired by Chief Minister Manohar Lal Khattar.

The EV policy provides various financial incentives to EV manufacturers by providing incentives on fixed capital investment (FCI), net SGST, stamp duty, job creation, etc., an official statement said.

Haryana EV Policy: Benefits, Reimbursement, Subsidy

There is 100% reimbursement of stamp duty along with exemption of electricity duty for a period of 20 years. SGST reimbursement will be 50% of the applicable net SGST for a period of 10 years. Companies manufacturing electric vehicles, electric vehicle parts, EV batteries, charging infrastructure etc. will be given incentives along with capital subsidy.

The mega industry will get capital subsidy at the rate of 20 per cent of FCI or Rs 20 crore whichever is less; FCI subsidy of up to 10 percent for large industry up to Rs 10 crore, FCI for medium industry up to Rs 50 lakh, FCI 20 percent for small industry up to Rs 40 lakh and 25 percent FCI subsidy for micro industry. 15 lakh up to Rs. Under this policy, units setting up battery disposal units will get 15 per cent of FCI up to Rs 1 crore.

The policy provides for employment generation subsidy of Rs 48,000 per employee per year for 10 years in lieu of employing Haryana’s domicile manpower with EV companies. Attempts will be made to convert 100 per cent of the bus fleet owned by Haryana State Transport Undertakings to electric buses or fuel cell vehicles or other non-fossil-fuel based technologies by 2030.

The cities of Gurugram and Faridabad will be declared as Model Electric Mobility (EM) cities with phase-wise targets for adoption of Electric Vehicles (EV), charging infrastructure to achieve 100% e-mobility.

In addition, the Town and Country Planning Department (TCP) will compulsorily incorporate provisions for charging electric vehicles at places such as collective residential buildings, commercial buildings, institutional buildings, malls, metro stations, etc., so that the overall be enabled. Ecosystem for the rise of electric vehicles.

The year 2022 will be declared as the “Year of Electric Vehicles” in Haryana.

The objective of the EV policy is to protect the environment, reduce carbon footprint, make Haryana an EV manufacturing hub, ensure skill development in the EV sector, promote EV vehicles, provide EV charging infrastructure and encourage R&D in EV technology. .

The policy provides one-time assistance to existing manufacturing units to facilitate fully converting EV manufacturing into EV manufacturing at 25 per cent of the book value up to Rs 2 crore for micro, small, medium and large units.

The cost of electric vehicle is comparatively high as compared to conventional fuel based vehicles which is a major hurdle for buyers in switching to EVs, the statement said.

The policy provides incentives to buyers which will reduce the effective upfront cost and motivate individuals to take up electric vehicles as the primary mode of transport.

EV Policy: Incentives

The policy will provide early-bird direct benefit transfer of up to Rs 10 lakh on the purchase of electric vehicles or hybrid electric vehicles in the state. Buyers will be eligible for exemption in registration fee and exemption in motor vehicle tax. The policy encourages R&D in educational or research institutions if they set up R&D centres.

The policy will promote research and development in the field of EVs by providing 50 per cent of the project cost of up to Rs 1 crore for developing new electric charging technology and up to Rs 5 crore for developing new electric vehicle technology.

A grant of Rs 5 crore will be provided to institutions doing dedicated research on non-fossil-fuel based mobility solutions. A one-time subsidy of Rs.25 lakh will be given to the first 20 colleges/industrial training institutes/polytechnics for setting up infrastructure related to R&D of EVs.

In addition, Government organizations, PSUs, private companies will be encouraged to set up Centers of Excellence (CoEs), which will be incentivized with a grant of 50 per cent of the project cost up to Rs 5 crore.

(with inputs from PTI)

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