EV policy will boost economy, environment, say buyers; manufacturers see EV production growth Ludhiana (Punjab):The Punjab cabinet's recently approved new Electric Vehicle Policy in its bid the environmental pollution caused due to vehicular emissions under control is welcomed by the industry and the buyers alike. The policy envisages subsidy Rs 10,000 for the first one lakh buyers of Electric vehicles in the state, while the first 10,000 buyers of electric auto-rickshaws will get financial incentives of Rs 30,000.
The policy also provides for exemptions and waivers on road tax and registration fees for EVs. Reacting to the EV Policy, buyers said the recently brought in EV Policy will reduce the prices of electric vehicles in the state by 20 to 25 per cent. The EV mode of transport will become a much cheaper mode of transportation, a buyer said.
Electric vehicles offer a better mileage and required charging hours vary from seven to eight hours. With the fuel price being on the rise constantly, an electric vehicle is a much cheaper option. This will also reduce the environmental pollution caused by the use of fossil fuel vehicles, another buyer said.
Rishi Pahwa, Director of Avon cycles, who was recently appointed Chairman of the Confederation of Indian Industry (CII), Ludhiana Chapter, lauded the state government for coming out with the Electric Vehicle Policy. Pahwa said the Punjab's EV Policy will promote electric vehicles in cities like Ludhiana, Amritsar, Jalandhar, Bathinda, and Patiala and these cities account for 50 per cent of total vehicles plying in the state.
"We started our electric vehicle plant 16 years ago. We also sought help from the government to promote the use of EVs in the state...," he said. The subsidy of Rs 4000 for electric cycles is a welcome step. The subsidy is being offered to e-rickshaws as well. With huge deposits of Lithium being discovered in Jammu, the cost of these electric vehicles may come down by 40-50 percent in the future. This policy will also give a boost to the electric vehicles industry, he said.
Also read:Punjab cabinet approves new Industrial and Electric Vehicle policies
Satish Kumar, an e-rickshaw manufacturer said the rise in electric vehicles will have positive impact the environmental pollution. This will help eradicate several health problems caused due to pollution, he said.
