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Uttar Pradesh state government yesterday (6 August) approved a
new policy to establish electric vehicle (EV) charging
infrastructure, reports the Financial Express. A 25% rebate on the
market rate of land will be offered to set up EV charging points.
Under its EV policy, the state government expects to run 10,000
electric buses and phase out old ones In the first phase. By 2024,
70% of commercial vehicles are expected to be electric and 200,000
charging stations will be set up.
Significance: The Indian government has recently announced a
slew of initiatives to promote the use of EVs in the country. Last
month, in the Union Budget, the government reduced goods and
services tax (GST) rate on EVs from 12% to 5%. Furthermore, the GST
rat on EV charging stations has also been revised from 18% to 5%.
Lack of charging infrastructure is currently seen as one of the key
hurdles for mass adoption of EVs.
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The above article is from AutoIntelligence Daily by IHS Markit. Every working day, AutoIntelligence Daily provides about 30 articles focused on automotive news, events and trends. Get a free trial.
