3 November 2020.
- The State Government has exempted taxes to both transport and non-transport vehicles.
- The State Government is already providing incentives to attract investments.
- The Tamil Nadu Government provides 100% GST reimbursement and 50% capital subsidy to the EV manufacturing units.
- The plan is to set up an EV park through these incentives. The park is to be set up in 300 acres of land.
Electric Vehicle Park
- The Electric Vehicle Park is expected to create 150,000 jobs in the state.
- The State Government recently signed Memorandum of Understandings worth Rs 30,664 crores.
- Of this, Rs 3,500 crores are from auto sector.
- The plan is to set up the park through the MoUs signed.
- The park will be first of its kind in India.
- The state currently produces 4.82 million two-wheelers and 1.71 million passenger vehicles.
- It accounts to 35% of auto component production of the country.
About other States
- Several states of India are now focusing on Electric Vehicles.
- The Delhi Government, in August 2020, released the Electric Vehicle Policy, 2020.
- The EV policy of Delhi Government also focuses on giving incentives and subsidies to Electric Vehicles.
- The State Government of Karnataka approved the Electric Vehicle and Energy Storage Policy, 2017.
- The State Government of Maharashtra proposed to exempt EVs from road taxes.
- Also, it has proposed to provide maximum subsidy of Rs 1 million per charging station to the first 250 charging stations being set up in the state.
- And, the Maharashtra State Government had agreed to provide 15% subsidy to the first one lakh registered EVs.
Government of India measures:
- The GoI launched National Electric Mobility Mission Plan, 2020 to improve fuel security through promotion of electric and hybrid vehicles in the country.
- Also, the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) was launched.
- FAME provides incentives to purchases of electric vehicles. Currently Phase II of FAME is under implementation.