Tamil Nadu Introduces Multiple Incentives In New EV Policy
From tax exemptions to public transport electrification, here’s all that’s offered
In an attempt to accelerate the electrification of automobiles and growth of the EV sector, the Tamil Nadu government has introduced new public policy with various incentives and offers. Here’s all that is included.
Apart from an investment interest of Rs 24,000 crore, Tamil Nadu has also signed an MoU for an employment potential of 48,000 jobs in the EV value chain. Also, EV projects are set to offer reimbursement of Rs 48,000 (max) per employee and residents of Tamil Nadu -- for all new jobs created during the policy period.
For Companies
With the new policy, EV projects can take advantage of multiple incentives including 100 percent electricity tax exemption for five years, only if it is purchased from the Tamil Nadu Generation & Distribution Corporation Limited (TANGEDCO) or generated and consumed from captive sources. Companies transitioning to EV manufacturing will receive financial support to upskill their workforce.
For housing and commercial
Amendments to building and construction laws to ensure charging infrastructure is integrated at the planning stage of new constructions in cities.
Commercial vehicles ranging between Rs 5,000 to Rs 10 lakh to receive incentives based on battery capacity. Conversion of IC engine commercial vehicles to EVs to be incentivised as well.
Power tariff for public charging stations will be revised along with new incentives for charging and battery swapping stations.
General public
Lastly, the Tamil Nadu government has also decided to waive off road tax, registration charges and permit fees for EVs.
These steps should help boost e-two-wheeler sales, and accelerate the growth of the EV infrastructure in the state.
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