Hyderabad: In yet another significant move in attracting investments, creating employment and improving its commerce, the Telangana State government on Friday unveiled its Electric Vehicle and Energy Storage System Policy – 2020-2030 ( EV & ESS).This new state policy offers a slew of incentives to manufacturers, purchasers and users of electric vehicles (EV) attracting global and local players in the sector.
In its eco-friendly and self reliant move, the state administration also decided to give 100 per cent exemption on road tax and registration fee for the first 2 lakh two-wheeler EVs purchased and registered within the state.
Similarly, upto a certain numbers, the early adopters of EV two-wheeler and three-wheeler also have exemptions on road tax and registration fee.
The policy launched by Telangana IT, Industries & Municipal Administration Minister KT Rama Rao, Environment & Forest Minister Indrakaran Reddy and Transport Minister Ajay Kumar Puvvada aims to attract $ 4 billion investments and create 1.2 lakh jobs in EV sector by 2030.
Positioning Hyderabad, Telangana as a manufacturing and innovation Hub, Minister KT Rama Rao highlighted the significance of 3D mantra – Decarbonisation, Digitisation & Decentralisation for sustainable development at the Telangana EV Summit 2020.
Energy firm Mytrah Energy, Electric Vehicle Manufacturer Olectra among other companies signed MoUs for setting up manufacturing units and investments in the state.
Sunil Sharma, Principal Secretary, Telangana Transport, Roads & Buildings, Jayesh Ranjan, Principal Secretary, IT, Industries & Commerce, TSIIC VC & MD EV Narashimha Reddy, Telangana Renewable Energy Development Corporation ( TSREDCO ) MD N. Janaiah were among those participated in the launch summit.
