With the aim to promote electric vehicles in the State, Telangana Ministers KT Rama Rao and Ajay Kumar launched futuristic Telangana Electric Vehicle and Energy Storage Policy 2020-2030 at Telangana EV Summit in Hyderabad. Under that policy, the State Government offers 100 per cent exemption of road tax and registration fee for the first two lakh electric two-wheelers purchased and registered within the State.
According to the State Electric Vehicle and Energy Storage Policy, all the electric vehicles will be applicable for this offer only if they are purchased and registered within the State. The policy also gives 100 per cent exemption on road tax and registration fee for electric tractors purchased and registered in the State as per the existing rules / guidelines applicable for tractors by the Transport Department, it said.
“To make Telangana a major base for EV and ESS (energy storage system) sectors and to attract investments worth $4.0 billion and create employment for 120,000 persons by 2030 through EVs in shared mobility, charging infrastructure development and EV and ESS manufacturing activities,” the policy said.
The policy called for developing Telangana as a global center for cutting-edge research and innovation in electric vehicles, battery technologies, and other emerging technologies such as autonomous / connected vehicles.
After unveiling the policy, KT Rama Rao said: “Telangana has come out with an extremely comprehensive policy. We also ensured that the energy story policy is clubbed in with the EV policy because these two are tight-knit ideas which need to work cohesively … we have taken a pragmatic approach while designing this policy and consulted industry leaders.”
Moreover, according to the Government, Telangana has attracted Rs. 3,200 crores worth investments on the very first day of releasing the Telangana EV Policy. About 15,000 more jobs will be created. The State Government signed MoUs with five firms that are set to invest in the EV space.