Punjab CM Bhagwant Mann gives nod to draft EV policy, buyers to get cash incentives

Based on the Punjab government's draft EV policy, first 1 lakh buyers of EVs will get a financial incentive of up to Rs 10,000, whereas the first 10,000 buyers of electric auto rickshaw and e-rickshaw will get a concession of up to Rs 30,000.

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Punjab Chief Minister Bhagwant Mann has approved a draft of a new electric vehicle policy that includes a waiver of the registration fee and road tax, as well as cash incentives for purchasing electric vehicles. Mann stated in an official statement that the draft policy aims to reduce pollution by reducing carbon emissions through the promotion of electric vehicles. According to the draught policy, EVs will be promoted in major cities such as Ludhiana, Jalandhar, Amritsar, Patiala, and Bathinda, which account for more than half of the state's vehicle fleet.

The new draft policy envisages registration of 25 per cent more electric vehicles in these cities, Mann said. He said electric charging points infrastructure will be set up across the state for private and public electric vehicles. Mann also said it would be the government's focus to establish the state as a hub for manufacturing EVs, their components, and electric batteries.

A centre of excellence will be established for research and development in this field, he said. The draft policy also proposes cash incentives to the people opting for electric vehicles in the state, he said. A provision has been made to waive the registration fee, and road tax on the registration of these electric vehicles said Mann.

The first 1 lakh buyers of the electric vehicles will get a financial incentive of up to Rs 10,000, whereas the first 10,000 buyers of electric auto rickshaw and e-rickshaw will get a concession of up to Rs 30,000. He said the first 5,000 e-cart buyers will get an incentive of up to Rs 30,000, and the first 5,000 buyers of light commercial vehicles will get an incentive between up to Rs 30,000-Rs 50,000. Before finalising the policy, views of people will be taken, the CM said.