Odisha announces 15% subsidy on purchase of electric vehicles

The Odisha government said it will provide 15 per cent subsidy on the purchase of electric vehicles. For two-wheelers, the subsidy will be 15 per cent of the cost, up to a maximum of Rs 5,000. The cap on 15 per cent subsidy for three-wheelers is Rs 10,000, and for four-wheelers, it is Rs 50,000, it said.

The decision was taken on the suggestions of Niti Aayog, and in accordance with the Odisha Electric Vehicle Policy 2021, a notification issued on Monday by the Commerce and Transport Department said.

The subsidy will be in effect from September 1, 2021 and the amount will be credited to the bank accounts of beneficiaries by the RTO where the vehicle is registered. The scheme will be in place till December 31, 2025.

A dedicated portal to monitor information relating to sales, credit of purchase incentives and subsidy on loans will be set up.

In October last year, the government had announced exemption of registration fees and motor vehicle taxes on all categories of electric vehicles.