10 lakh EVs in five years in Andhra Pradesh! No petrol, diesel car registrations in Amaravati

The Andhra Pradesh Electric Mobility policy has been announced and it has big plans for the state’s transition to the electric mode of transport. AP Electric Mobility policy has been designed to attract investments of over Rs 30,000 crore and create 60,000 jobs. Another breakthrough proposition in the policy is that Amaravati will likely be turned into an electric-only city where internal combustion engines (ICE) would not be allowed. The Nara Chandrababu Naidu-led government aims to replace 100% of APSRTC bus fleet of over 11,000 buses into electric. Under the new policy, the state of Andhra Pradesh will have 10 lakh electric vehicles (EV) across all segments and 1 lakh standard and fast charging stations by the year 2024. Besides these, all government vehicles including government corporations, boards, ambulances etc will be replaced with electric alternatives.

The policy also includes a research and development grant of Rs 500 crore for EVs. Andhra Pradesh currently has over 5000 MW of electricity generation from renewable sources such as solar and wind. Not just electric buses, the state will extend electric mobility to other public transport vehicles as well. It will grant permits to electric auto-rickshaws on priority.

Under Andhra Pradesh’s new Electric Mobility policy, private charging stations and hydrogen generation & refueling infrastructure will be eligible for the following financial incentives:

– DC chargers (100V and above): Capital subsidy of 25% of the value of the charging station equipment/machinery for the first 100 stations up to a maximum subsidy of Rs 10 lakh.

– DC chargers (below 100V): Capital subsidy of 25% of the value of the charging station equipment/machinery for the first 300 stations up to a maximum subsidy of Rs 30,000.

– Capital subsidy of 25% of Fixed Capital Investment (for eligible assets excluding the cost of battery inventory) for the first 50 swapping stations up to a maximum subsidy of Rs 10 lakh.

– 100% net SGST, accrued to the state, as reimbursement for purchase of fast chargers (DC chargers of 100V or above).

– 100% net SGST, accrued to the state, as reimbursement for purchase of advanced batteries for EV battery swapping stations.

– Capital subsidy of 25% of the Fixed Capital Investment for hydrogen generation and fuelling plants, with a maximum subsidy of Rs 10 crore/unit for the first 10 units.

Saurabh Kumar, MD EESL, explained that its all about driving demand. The US gives capital subsidies for EVs and so does China. The EESL thinks India doesn’t need any capital charge. Cost of running an EV has an inherent economic benefit.

He further pointed out that public awareness of the benefits of EVs is very important and so is charging infrastructure. The EESL will have over 100 public charges in next one month.

Public transport and fleet operators need to shift to EVs before personal buyers get into it. Three-wheelers moving to electric will benefit both riders and users. It is more economically viable giving more savings while also benefitting the environment with zero-emissions, opined Mahesh Babu, CEO, Mahindra Electric.

Every segment requires a different type of subsidy when it comes to EVs. Premium cars and SUVs costing over Rs 20 lakh should not be given subsidies. Two-wheeler, three-wheelers, and buses should get incentives. More EVs on road will increase penetration in the personal space, opined Prabhjot Kaur, CEO, Centre for Battery Engineering and EVs, IIT Madras.

 

Source:- financialexpress

Share: