Buy An EV, Get Your Road Tax And Registration Refunded; Andhra Pradesh Clears New EV Policy

Following Karnataka and Maharashtra, Andhra Pradesh has become the third state to clear an electric vehicle (EV) policy, reports The Economic Times. The southern state aims to attract investments worth Rs 30,000 crore over the next five years through fiscal incentives to manufacturers of cars, batteries, charging infrastructure as well sops to consumers.

The EV policy was approved by the cabinet earlier this week and offers complete reimbursement of road tax and registration fee on EVs till 2024.

The policy aims to put at least 10 lakh EVs on the roads of Andhra Pradesh over the next five years with heavy discounts and tax rebates. Four cities will sport electric buses in place of diesel buses by 2024 and the entire state will make the switch by 2030.

A 10 per cent capital subsidy would be offered to the first two manufacturers to set up shop in the state along with reimbursements for stamp duty, land and state Goods and Services Tax (GST). Discounts will also be offered in power and electricity supply.

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