The Odisha government has made a major announcement to boost the growth of Electric Vehicle (EV) sector in the State.
The State Commerce and Transport Department on Monday declared to allot buyers of E-vehicles with subsidy during the policy period up to 31.12.2025. The subsidy will be applicable retrospectively with effect from 1.9.2021.
As per a letter from the Transport Department, the government will pay back the subsidy amount directly to the bank accounts of the beneficiaries through the Regional Transport Office (RTO).
The user can avail the subsidy from the concerned RTO under which his/her E-vehicle is registered.
The government has announced 15 percent of the cost of E-vehicles subject to a cap of Rs 5000 for two-wheelers, Rs 10,000 for three-wheelers and Rs 50,000 for four-wheelers.
In order to streamline the entire process, the government has directed the Transport Commissioner to take the help of NIC/OCAC and develop a dedicated portal to monitor all information related to EV sales, crediting of purchase incentives, subsidy on loans for the purchase of EVs, etc, said the official notification.
Notably, the Odisha government on September 2 last year published the Odisha Electric Vehicle Policy 2021 in order to encourage faster adoption of EVs in the State.
Under the policy guideline, the government has proposed to extend various incentives to the purchasers, manufacturers of EVs, batteries and charging stations.
As the first step, the government has already exempted the registration fees and Motor Vehicle Taxes for all categories of EVs on October 29 last year.