Business Opportunities | Electric Vehicle Govt. Policy

Electric Vehicle Supply Equipment

ev-electric-vehicle Business Opportunities The Electric Vehicles have taken the world by a storm in the recent years, spearheaded by Tesla which now has a worldwide revenue of $11.8 Billion

India is expected to command leadership in EV space with a projected share of 30% of new vehicles sold by 2030. Govt has tabled a proposal to have a charging station every 3KM in major cities & every 50KM on major national highway.

The EV sector will greatly affect the automobile component manufacturing sector, there are over 8,000 MSMEs and another 50,000 in retails and distribution of aftermarket components which generates over 30 Lacs jobs.

EV Policy updates from various states

Maharashtra state has revealed various plans to ensure smooth deployment of EVs:
Plans to bring Rs. 25,000 Cr. investment for EV manufacturing
New and Expanding MSME's will be eligible Industrial Promotion Subsidy (IPS)
Interest Subsidy will be provided to qualifying MSMEs
Qualifying MSMEs are exempted from Electricity duty for up to 15 years
For manufacturing units in Vidarbha a power tariff subsidy of Rs. 1/Unit for upto 3 years is provided
MSEDCL plans 10 electric vehicle fast charging stations in Nagpur

Uttarakhand government has announced an EV policy with various concessions for MSMEs:
Investment promotion subsidy of over 25% upto Rs. 15 Lakhs for Micro Units
Small enterprises to get investment promotion subsidy of over 20% for a maximum amount of Rs. 40 Lakh
A subsidy of 50 lakh rupees will be given to the Medium manufacturing enterprises on investments
100% exemption on tax on the electricity tariff for the initial five years will be provided by the government for the MSMEs

Karnataka Government has also announced incentives and concessions for MSMEs:
Term loans ranged from Rs. 10 Cr to Rs. 50 Cr would be provided MSMEs
These enterprises would also be entitled to 100% electricity duty exemption
A waiver of Rs. 1000 each for the training of workers for EV manufacturing
The state govt. would reimburse the MSMEs 30% to 50% of the GST

States EV Policy updates

Business Opportunities
States EV Policy updates
Karnataka, Uttarakhand, Maharashtra Government has also announced incentives and concessions for MSMEs:

Contact Us