Green push: 4K electric vehicle buyers get Rs 33 cr incentive in Chandigarh

The Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST), the nodal agency for implementation of Electric Vehicle (EV) Policy in the city, has released more than Rs 33.07 crore in incentives to 4,776 EV buyers in all categories so far. The scheme is aimed at encouraging residents to go for environment-friendly vehicles.

According to CREST officials, a total of 18,156 electric vehicles of all categories, including 16,272 battery-operated, 982 pure electric and 902 strong-hybrid vehicles, have been registered in the city so far. The UT Administration had approved the standard operating procedures (SOPs) for the release of financial incentives under the EV Policy-2022, which was notified on September 20.

According to the policy, the direct incentive will be given to buyers for a policy period of five years or till the time the administration decides otherwise. New buyers purchasing a new electric vehicle between September 20, 2022, and September 19, 2027, are eligible for direct incentive subject to the number of EVs to be incentivised as per the policy. The direct incentive benefit is not applicable to the government sector.

The officials said the incentives were being released to the beneficiary on acceptance of all documents, subject to the availability of funds. A user will forfeit its entitlement for direct incentive if he or she does not submit a claim, complete in all respects, within three months from the purchase of a new electric vehicle.

In case, it was found the applicant had claimed the assistance on the basis of wrong facts, the applicant would have to refund the amount along with compound interest at the rate of 14% per annum. Such individuals would face legal action and be debarred from grant of any incentive/assistance from the administration.

Apart from a complete waiver on registration fee and road tax, the UT has offered incentives in the range from Rs 3,000 to Rs 2 lakh for the first 42,000 buyers of EVs of all categories during the policy period.

Charging stations have been installed at 24 places in the city so far. Thirty new stations will be installed by the end of this month. The administration claims that in the next two years, charging stations will be built at a total of 100 places across the city.

Who are eligible

Under the scheme, a direct incentive is provided only to those users who purchase new electric vehicles in UT and get it registered with the Registering and Licensing Authority, Chandigarh.