Tamil Nadu Uncovers Its New EV Policy

Tamil Nadu’s Chief Minister Edappadi K Palaniswami announced the Tamil Nadu’s Electric Vehicle policy on monday having objectives like attracting₹50,000 crores in investments and to generate 1.5 lakh new jobs.

The Concept of Electric Vehicles(EV) is not a new one for a country like ours(India) but is indeed a revolutionary one. EVs are a growing market which has a lot of scope for investment in it and they are environment-friendly too. Thus, boosts the EV market to grow more and more.

Structured Implementation

The Electric Vehicle policy of the TN state focuses on a structured framework on making Tamil Nadu the priority site for EVs and the manufacturing of the EV parts or the components, like Battery and charging infrastructure. For the better implementation of the policy, the govt. has included Support Measures in the policy which are 100 percent road tax exemption for all types of EVs, capital subsidies, reimbursement of State GST, subsidy on land cost and not only this but also there are special incentives for job-creating EV projects. However, other positive reasons for the introduction of this policy are that the state Tamil Nadu is a site that is manufacturing prone and also has skill availability. With the existing manufacturing environment, Tamil Nadu is a preferred spot for EV space, according to the Industry experts.

Government Is Making the Policy As Producer and Consumer Friendly As It Can :

• State government offers 100 percent road tax exemption,
• There will be waivers on registration fees under the Central government’s policy.

“Our EV policy is a comprehensive one as it covers the manufacture of electric vehicles, batteries and accessories. Apart from capital subsidy and tax exemption, we have given land subsidy. Also, we have decided to create an EV park with plug-and-play facilities. This is also a unique feature when compared with other States,” said N Muruganandam, Principal Secretary to Government, Industries Department, Government of Tamil Nadu in an interview.

The State government has said it will encourage start-ups in the EV sector and offer incubation services to them in the form of office space, common facilities, and mentoring support.