Constituent policy

Haryana State EV Policy 2022: EV buyers to get Rs 10 lakh rebate, massive business benefits

The Government of Haryana has recently given the green light to the National Electric Vehicle Policy 2022. Under the Electric Vehicle Policy, manufacturers will be offered several financial incentives to manufacturers of electric vehicles, components of electric vehicles, electric vehicle batteries, charging infrastructure, etc. Additionally, EV buyers will also be incentivized, which will reduce effective upfront costs, as EVs require a higher upfront cost compared to ICE vehicles.

Manufacturers of electric vehicles and electric vehicle components will be incentivized with a capital grant

Here is what the policy proposes:
EV makers will be incentivized on fixed capital incentives (FCI), net SGST, stamp duty, job creation and more.
1. A 100% refund of stamp duties as well as an exemption from electricity duties will be granted to manufacturers of electric vehicles for a period of 20 years.
2. 50% of net SGST filed by EV manufacturers will be eligible for reimbursement for 10 years.
3. Manufacturers of electric vehicles and electric vehicle components will be incentivized with a capital grant.
4. Job creation grant of Rs 48,000 per employee every year for 10 years.
5. Gurugram and Faridabad will be declared Electric Mobility (EM) Model Cities. Adoption must be done gradually to achieve the 100% electric mobility goal.
6. Commit to converting Haryana State Transport’s bus fleet to a 100% fossil-free fleet by 2030.
Additionally, Mega industry players operating in Haryana will also be eligible for a 20% capital grant on FCI or Rs 20 crore. The one who is the lowest. Similarly, large industries will benefit from a capital grant of 10% from the FCI or Rs 10 crore. 20% FCI up to Rs 50 lakh for medium industry and 20% FCI or Rs 40 lakh for small industry. Even micro-industry will benefit from 25% capital grant from CFI up to Rs 15 lakh.

Chief Minister of Haryana, Manohar Lal Khattar

(Left) Chief Minister of Haryana, Manohar Lal Khattar

“We welcome this groundbreaking decision by the government of Haryana to declare 2022 as the Year of Electric Vehicles. What is encouraging is that there is a comprehensive policy on electric vehicles that supports this decision. Reducing emissions from the road transport sector is an essential part of India’s efforts to decarbonise its economy and a well-articulated and incentivized EV policy is key to creating an enabling environment for EV adoption Suman Mishra, CEO of MEML , said.

Benefits of Early Registration for Electric Vehicle Buyers - Representative Image

Benefits of Early Registration for Electric Vehicle Buyers – Representative Image

Up to Rs 10 lakh benefits for EV buyers:
Under the policy, buyers of EVs or Hybrid Electric Vehicles in Haryana will enjoy transfer of early bird benefits of up to Rs 10 lakh. A relaxation of registration fees and lower motor vehicle tax rates are also proposed.
Grants for R&D and Institutions:
To promote research and development of electric vehicle technology in the state, the government of Haryana is also offering 50% of the project cost (up to Rs 1 crore) for the development of new charging technologies. Also up to Rs 5 crore for the development of new electric vehicles at R&D centers.

Up to Rs 5 crore for development of new electric vehicles at R&D centers - Representative image

Up to Rs 5 crore for development of new electric vehicles at R&D centers – Representative image

Institutes carrying out research on non-fossil fuel based mobility will also be eligible for grants worth Rs 5 crore. The top 20 colleges/institutes in the fields of industrial training and polytechnics will also receive a one-time grant of Rs 25 lakh.
Tell us in the comments what you think of the 2022 edition Haryana State Electric Vehicle Policyis this really the “Year of Electric Vehicles” in the state?