Bhubaneswar: The Odisha government will soon constitute an ‘Electric Vehicle Fund’ to provide a variety of incentives for buying different categories of electric vehicles (EVs) for four years as envisaged in the Odisha Electric Vehicles Policy 2021 announced by it, informed Commerce & Transport department in an official press release issued today.
According to the press release, for buying an electric two-wheeler an incentive of 15 per cent of the value of the vehicle will be provided subject to a maximum of Rs 5,000, for three-wheelers 15 per cent of the value of the vehicle subject to a maximum of Rs 10,000 and for four-wheelers, it is 15 per cent of the value of the vehicle subject to a maximum of Rs 50,000.
Similarly, for buying an electric bus an incentive of 10 per cent of the value of the bus will be provided subject to a maximum of Rs 4 lakh and Rs 30,000 will be provided as an incentive for transport vehicles.
Anyone buying an electric vehicle for private use by loan shall get an interest subvention of 5 per cent. Also, provision is being made to waive vehicle registration fees and Motor Vehicle Tax during the defined period.
Besides, firms manufacturing electric vehicles shall be cent per cent exempted from paying net SGST and all small and micro battery industries shall get incentives under the MSME Policy-2016.
Further, there will be a rebate in parking fees for electric vehicles in different towns.
Moreover, there shall be provisions for a rebate in Electricity Duty for battery charging stations.
