Telangana woos EV firms with incentives

New policy’ to promote usage of electric vehicles and attract investors

By   |  Business Bureau  |  Published: 10th Sep 2020  10:31 pmUpdated: 11th Sep 2020  12:34 am

Hyderabad: Telangana has come up with the new ‘Electric Vehicle and Energy Storage Solution Policy’ to promote the usage of electric vehicles (EVs) and attract investors in the green mobility sector by giving various incentives.

EV companies will get preferential market access to establish their manufacturing plants in Telangana, said Jayesh Ranjan, Principal Secretary, ITEl&C, Industry and Commerce, during an e-business summit on Integration of Energy Storage and Mobility organised by Indian Chamber of Commerce on Thursday.

Lack of charging infrastructure is a major bottleneck for electric mobility and Telangana government has taken measures to ensure there is adequate public vehicle charging infrastructure across Hyderabad. Every Hyderabad Metro Rail Station has charging infrastructure. The State government has also been able to secure from the Electricity Regulatory Authority in Telangana special tariff for EV charging stations.

Ranjan said, “For Telangana, both energy storage and electric mobility are aligned. And the State policy that we have brought out last month shows integration and comprehensiveness. Mobility can never be separated from the storage solutions. Telangana’s EV policy has taken a comprehensive approach, where there is a component that focuses on how do you create demand for electric mobility and ensure that the public transportation system is at the forefront.”
“It is important that commonest forms of public transport such as auto rickshaws and shared cabs take a lead so that a common user gets confidence that it is not difficult to transition into electric mobility,” he added.

The EV policy has a special emphasis on storage requirements and the government has decided to provide supportive infrastructure and incentives for companies which are in different stages of storage segment be it components, accessories or packaging.

Research and manufacturing

Also, a 400-acre land parcel is set aside by the State government on the Hyderabad-Bengaluru National Highway for an Energy Park for companies offering storage solutions. Two companies have already taken 50-acres of land each. The State also has a progressive policy for electronics manufacturing where companies are provided a variety of incentives such as land at concessional rate, GST benefits, power subsidy and interest subvention.

Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.

Click to follow Telangana Today Facebook page and Twitter .