Tamil Nadu grants 100% motor vehicle tax exemption for Electric Vehicles.
- Posted By
10Pointer
- Categories
Programmes & Policies
- Published
4th Nov, 2020
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- The State has exempted taxes to both transport and non-transport vehicles.
- Tamil Nadu is already providing incentives to attract investments like 100% GST reimbursement and 50% capital subsidy to the EV manufacturing units.
- The plan is to set up an EV park through these incentives.
- The park is to be set up in 300 acres of land.
- The Electric Vehicle Park is expected to create 150,000 jobs in the state.
- The State Government recently signed Memorandum of Understandings worth Rs 30,664 crores. Of this, Rs 3,500 crores are from auto sector.
- The plan is to set up the park through the MoUs signed. The park will be first of its kind in India.
- The GoI launched National Electric Mobility Mission Plan, 2020 to improve fuel security through promotion of electric and hybrid vehicles in the country. Also, the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) was launched. FAME provides incentives to purchases of electric vehicles. Currently Phase II of FAME is under implementation.
