The Electric Vehicles space has been one of the major focus areas of the Central Government for quite some time now and lately we've seen several state governments coming up with their EV policies in a bid to push faster adoption of EVs in respective states. The latest state to join the development is Haryana that has notified the Electric Vehicle Policy 2022 aiming to promote the manufacturing of electric vehicles and their components in the state.
Anand Mohan Sharan, Additional Chief Secretary of the Industries and Commerce Department, on Thursday said that with the formulation of this policy, research and development in the field of electric vehicles will be encouraged. Moreover, the government will be strengthening the infrastructure and provisions have been made in the policy to reduce the upfront cost of electric vehicles. It also ensures that the buyers of hybrid EVs as well are given incentives.
Earlier in June, the Haryana government approved the EV Policy 2022 offering several financial incentives to EV manufacturers. The EV policy offers various financial incentives to EV manufacturers by giving incentives on fixed capital investment (FCI), net SGST, stamp duty and employment generation among others. There is a full reimbursement of stamp duty along with an exemption in electricity duty for a period of 20 years. The government says that the EV Policy aims to protect the environment, reduce carbon footprint, make Haryana an EV manufacturing hub, ensure skill development in EV field, encourage uptake of EV vehicles, provide EV charging infrastructure and encourage R&D in EV technology.
