Karnataka govt to offer additional incentives to EV industry
Team Udayavani, May 28, 2021, 12:04 PM IST
Bengaluru: The State’s Cabinet on Thursday approved changes to the Karnataka Electric Vehicle and Energy Storage Policy, 2017 to provide more benefits to the electric vehicle (EV) industry.
As per the changes, the government will offer upto 15 per cent of fixed assets value to an EV maker for land less than 50 acres. The payment will be made in instalments for five years.
Additionally, entities manufacturing EV cells, battery packs and modules, charging infrastructure equipment and battery swapping equipment will get a production-linked subsidy of 1% on their turnover.
The subsidy will be paid for the first five years from the year the entity starts operations.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
BJP’s CT Ravi Booked for Promoting Hatred and Enmity Through Social Media Post
Elections held in 14 LS segments in Karnataka, voter turnout nearly 64 per cent till 5 pm
‘PM is scared, may even shed tears on stage’: Rahul Gandhi’s fresh salvo at Modi
EVMs destroyed as two groups of villagers clash in Chamarajanagar district
Banjarumale hamlet in Belthangady records 100 per cent voting
MUST WATCH
Latest Additions
Patanjali Foods to evaluate proposal to buy Patanjali Ayurved’s non-food business
Congress to discuss candidates for Amethi, Raebareli seats on Saturday
BJP’s CT Ravi Booked for Promoting Hatred and Enmity Through Social Media Post
Elections held in 14 LS segments in Karnataka, voter turnout nearly 64 per cent till 5 pm
‘PM is scared, may even shed tears on stage’: Rahul Gandhi’s fresh salvo at Modi