Haryana Approves Electric Vehicle Policy 2022
Estimated Reading Time: 1 minutesThe Haryana government approved the State Electric Vehicle Policy 2022, which offers several financial incentives for electric vehicle manufacturers. This decision was made at a meeting under […] The post Haryana Approves Electric Vehicle Policy 2022 appeared first on EMobility+.
Estimated Reading Time: 1 minutes
The Haryana government approved the State Electric Vehicle Policy 2022, which offers several financial incentives for electric vehicle manufacturers. This decision was made at a meeting under the Chairmanship of Chief Minister Manohar Lal Khattar, the Haryana state cabinet.
The EV policy provides financial incentives for EV manufacturers through incentives on net SGST, fixed capital investment (FCI), employment generation, and stamp duty among others. For a period of 20 years, stamp duty will be refunded 100% and electricity duty will also be exempted. For a period of 10 years, the SGST reimbursement will be 50% of the net SGST applicable. Manufacturers of electric vehicles and components, as well as charging infrastructure and EV batteries, shall be eligible for capital subsidy.
The mega industry will receive a capital subsidy of 20% of FCI, or Rs 20 Crore, whichever is less. The medium industry will get subsidies up to 20% of FCI or Rs 50 lakh, large industry up to 10% of FCI up to Rs 10 crore, small industry up to 20% of FCI up tp Rs 40 lakh, and micro-industry up to 25% of FCI up to Rs 15 lakh. This policy will allow units to set up battery disposal units to receive 15% of FCI upto Rs 1 crore. In lieu of Haryana-domiciled manpower employed by EV companies, the policy provides employment generation subsidy for Rs 48,000 per employee for a period of 10 years.
Gurugram and Faridabad will become model Electric Mobility cities. They will have phase-wise goals to adopt Electric Vehicles, and charging infrastructure for achieving 100% e-mobility. The Department of Town and Country Planning will also mandate that provisions are made for charging electric vehicles in public places, such as commercial buildings, malls, and metro stations among others. This is to enable the creation of an ecosystem for Electric Vehicles. Haryana will declare 2022 the “Year of the Electric Vehicles”.
This policy provides incentives for buyers to reduce upfront costs and encourage people to choose electric vehicles as their main mode of transportation. Purchase of Hybrid electric vehicles or Electric Vehicles in the state will be eligible for an early bird benefit transfer of up to Rs 10 Lakh. Buyers will be eligible to receive a reduction in registration fees and a discount on the Motor Vehicle Tax.
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