The Uttar Pradesh government has announced an extension of its electric vehicle (EV) subsidy policy until 2027, as stated in an official notification on July 16.
Under this policy, buyers of electric two-wheelers will receive a subsidy of Rs 5,000, while those purchasing electric four-wheelers will be eligible for a subsidy of Rs 1 lakh.
To support this initiative, the state has allocated Rs 100 crore to subsidize 200,000 electric two-wheelers. For electric four-wheelers, a budget of Rs 250 crore has been set aside.
Additionally, the policy includes a subsidy of Rs 20 lakh for private electric buses and Rs 12,000 per vehicle for electric three-wheelers.
The policy regarding road tax waivers for hybrid cars remains unchanged. Last week, the state announced a complete road tax waiver for hybrid vehicles but later clarified that only cars within a certain price range, potentially up to Rs 20 lakh, would be eligible. The exact price range for this waiver is still to be finalized.
Recently, state government officials held discussions with major automakers, including Maruti Suzuki, Tata Motors, Toyota, and the Mahindra group.
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Source: Moneycontrol
