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Punjab approves draft of e-vehicle policy, will get subsidy up to Rs 50,000

As per the draft Punjab e-vehicle policy, the first one lakh electric vehicle buyers in the state will be given incentive of up to Rs 10,000 in addition to exemption in e-vehicle tax. The objective of the Punjab e-vehicle policy is to promote electric vehicles in cities like Ludhiana, Jalandhar, Amritsar, Patiala and Bathinda. More than 50 percent of the vehicles plying in the state are present in these cities alone.

How much subsidy will you get?

The draft e-vehicle policy aims to make about 25 per cent of the vehicles in these cities electric. In addition to an incentive of Rs 10,000 for the first one lakh e-vehicle buyers, a subsidy of up to Rs 30,000 for the first 10,000 buyers of electric auto rickshaws and e-rickshaws is also proposed.

In addition, the first 5,000 buyers who buy the e-cart for commercial use will get an incentive of up to Rs 30,000. At the same time, incentives ranging between Rs 30,000 and Rs 50,000 will be given to the first 5,000 buyers of light commercial e-vehicles. Let us tell you, this incentive amount can be given in the form of subsidy which will be deposited directly into the bank accounts of the customers.

Punjab approves draft of e-vehicle policy, will get subsidy up to Rs 50,000

Punjab CM Bhagwant Mann said that the Punjab government would make every effort to encourage the sale and purchase of e-vehicles in the state. He said that the Punjab government aims to keep pollution under control by promoting clean energy e-vehicles in the state.

Punjab approves draft of e-vehicle policy, will get subsidy up to Rs 50,000

Mann said the government is improving the infrastructure of private and public electric vehicles. For this, the government is also setting up electric vehicle charging points. He also said that the state government aims to make Punjab a manufacturing hub for electric vehicles, EV batteries and other EV components in the next few years.

As per the data of Vahan Portal, 13,92,265 electric vehicles were registered in the country till August 3, 2022. In a written reply to a question in the Rajya Sabha, Union Minister of State for Heavy Industry Affairs Krishan Pal Gurjar said that three-wheelers have the largest number of electric vehicles in the country.

Punjab approves draft of e-vehicle policy, will get subsidy up to Rs 50,000

As on date, a total of 7,93,370 electric three-wheelers are registered in the country, while the number of electric two-wheelers is 5,44,643 units. At the same time, the number of registered electric cars is 54,252 units.

Punjab approves draft of e-vehicle policy, will get subsidy up to Rs 50,000

At present, the GST on electric vehicles is only 5 per cent as against 48 per cent on petrol vehicles. The high cost of lithium used in electric vehicle batteries has increased the cost of electric vehicles, but higher production of lithium in the future will bring down the price. Due to this, the price of electric vehicle will also see a fall.

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