Good news for EV buyers in Odisha, govt announces 15 percent subsidy

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Planning to buy an electric vehicle? Here's good news for the ones residing in Odisha. The Odisha government said it will provide a 15 percent subsidy on the purchase of electric vehicles.

For two-wheelers, the subsidy will be 15 percent of the cost, up to a maximum of Rs 5,000. The cap on 15 percent subsidy for three-wheelers is Rs 10,000, and for four-wheelers, it is Rs 50,000, it said. The decision was taken on the suggestions of Niti Aayog, and in accordance with the Odisha Electric Vehicle Policy 2021, a notification issued on January 31 by the Commerce and Transport Department said.

The subsidy will be in effect from September 1, 2021, and the amount will be credited to the bank accounts of beneficiaries by the RTO where the vehicle is registered. The scheme will be in place till December 31, 2025.

A dedicated portal to monitor information relating to sales, credit of purchase incentives, and subsidies on loans will be set up. In October last year, the government had announced the exemption of registration fees and motor vehicle taxes on all categories of electric vehicles. 

With inputs from PTI