The government of Uttar Pradesh on July 16 notified the extension of its electric vehicles policy till 2027, the state said in a statement. Under the scheme, electric two-wheelers get a subsidy of Rs 5,000, while 4-wheelers are eligible for an incentive of Rs 1 lakh, according to the government notification.
This move will encourage the EV Industry and strives to augment faster adoption of EVs in all sectors. It also allows B2B sectors to make investments in EVs and drive toward fleet electrification. The immunity from road tax and registration for EV purchases has surged from 75% to 100%, which can be the ultimate driving force to heavily escalate EV adoption. Doubtlessly, this is a paramount move by the state government to plunge the EV transition.
UP AS A MARKET
Uttar Pradesh leads with most electric vehicles in India for Calendar Year 2022, electric vehicle sales in India exceeded one million units, and the major states that contributed to this milestone are Uttar Pradesh (15%), Maharashtra (13%) & Karnataka (9%).
The State Transport Department has implemented the Scrapping Policy of Government of India to phase out the ICE combustion vehicles older than 15years running on road.
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