Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy-2022

• 14 Oct 2022

Why In News?

In the cabinet meeting chaired by Uttar Pradesh Chief Minister Yogi Adityanath on October 13, 2022, the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy-2022 was approved to increase the trend of people towards electric vehicles (EVs) for environmental protection in the state and to attract manufacturers.

Key Points

• The Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy-2022 takes care of the interests of consumers, manufacturers and charging and battery swapping service providers. This policy will be effective for the next 5 years.
• Investors will be encouraged to set up at least 20 charging stations and five swapping stations in every district during the effective period of the policy. Apart from this, 'Invest UP' will be made the nodal agency for coordinating and facilitating investment for the construction of charging infra structure .
• All approvals for the construction of charging infrastructure will be given on the recommendation of Invest UP, an authorized committee headed by the Infrastructure and Industrial Development Commissioner.
• It is to be noted that in order to increase investment in the state, a budget of Rs 500 crore has been arranged in the new policy for EV manufacturing companies and battery and related equipment manufacturers as well as consumers.
• State Finance Minister Suresh Kumar Khanna said that the policy aims to attract investment of Rs 50,000 crore as well as provide indirect employment to 1 lakh people.
• Consumers will not have to pay road tax and registration fee for five years from the date of implementation of the new policy on the purchase of all categories of EVs made in the state, while all EVs purchased and registered in the state will get 100 percent rebate in road tax and registration fee for three years from the date of implementation of the policy.
• In this policy, it has also been decided to give a subsidy of 15 percent on factory price to EVs purchased in UP.
• The policy will provide capital subsidy at the rate of 30 per cent on the maximum project investment of Rs 1000 crore for the first two ultra-mega battery projects investing Rs 1500 crore or more to set up a minimum capacity battery manufacturing plant of one GW in the state.
• Apart from this, the policy will provide capital subsidy at the rate of maximum 30 percent to the first two integrated EV projects investing Rs 3000 crore or more to set up integrated manufacturing facilities of EV, EV batteries and related equipment, including research and development and testing facilities.