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Get upto Rs 1 lakh incentive on your EV: All you need to know about UP’s EV subsidy
The Uttar Pradesh government launched a subsidy webpage on Wednesday, enabling customers of
electric vehicles
who bought their vehicles after October 14, 2022, to apply for financial aid. The effort, according to officials, was intended to encourage electric vehicles all around the state. The action is a part of the 2022 Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy, which also includes an incentive programme for purchase subsidies. Here are all the specifics on how to claim the subsidy, how much it is, and when it expires for purchasers of electric vehicles.How to apply for UP EV subsidy scheme?
Applicants for the EV subsidy must submit their applications using the website upevsubsidy.in. According to representatives, when a four-stage verification procedure is successfully completed, the subsidy amount will be sent to the customer's bank account after the application is filed.
The Uttar Pradesh Development Systems Corporation Ltd (UPDESCO), according to a release, has been given responsibility for the creation and upkeep of the platform.
The Purchase Subsidy Promotion Scheme may be implemented in accordance with the Policy, subject to certain restrictions.
Dates for the UP EV Subsidy Program's Start, End, and Expiration
On October 14, 2022, the UP government's EV subsidy programme enters into action. The promotion will run through October 13, 2023.
UP EV Subsidy Scheme: Application Process
The authorities said that after a successful four-stage verification procedure, the subsidy amount will be sent to the customer's bank account once the electric vehicle buyer submitted the application on upevsubsidy.in.
According to Rajiv Srivastava, Additional Commissioner (Transport), a four-level verification procedure will start with dealer verification and continue with registration and departmental verification once the online application has been submitted. TI (Transport Inspector) will conduct the last inspection.
The information released on the web states that, when the verification procedure is complete, the banking partner would transfer the subsidy amount to the customer's bank account within three working days.
Who may apply for the UP Government's EV Subsidy Programme?
On the purchase of any single car across all vehicle classes, individual recipients (buyers) will be qualified for EV subsidies.
However, aggregators or operators of fleets (buyers) will also be allowed to obtain purchase subsidies. This will allow a unit to collect subsidies for up to 10 cars across vehicle classes.
How much subsidy can you get?
The amount of the subsidy will be 50% of the overall incentive for buyers of EVs without batteries. Currently, the subsidy can be given at any moment.
Two-wheelers: For the first two lakh orders, the subsidy for two-wheeler electric vehicles would be Rs 5,000 per car, up to 15% of the ex-factory cost.
Four-wheelers: For the first 25,000 purchases of four-wheeler electric vehicles, the subsidy will be up to 15% of the ex-factory price or Rs 1 lakh per vehicle.
Electric buses: The first 400 non-government e-buses will receive a subsidy of up to 15% of the ex-factory cost, or Rs 20 lakh per vehicle.
E-goods transporters: The first 1000 e-goods transporters would each receive a vehicle subsidy of Rs. 1 lakh.