Andhra Pradesh rolls out EV policy to incentivise automakers, consumers

In a bid to promote electric vehicles (EVs), the Andhra Pradesh government Wednesday rolled out an electric mobility policy to give incentives to consumers, auto makers, battery manufacturers and charging infrastructure firm, according to a report by The Economic Times.

The policy will give complete reimbursement of road tax and registration fees, on sale of electric vehicles until 2024.

The state aims to have 10 lakh electric vehicles on roads in the next five years.

The N Chandrababu Naidu-led government has set a target of attracting investment of Rs 30,000-crore in EVs manufacturing in the next five years.

The policy also provides for 10 percent capital subsidy for the first two car manufacturing firms, stamp duty reimbursement for purchase or lease of land and state GST reimbursements.

Manufacturing firms will also be offered discounts on power and water tariffs.

The policy also aims to replace public transport buses in four cities to electric buses by 2024 and across the state by 2030.

Source- Money Control