Bhubaneswar:27/8/21: The Odisha Cabinet today accorded its stamp of approval to Odisha Electric Vehicle Policy-2021 which aims to achieve adoption of 20% Battery/Electric Vehicles in all vehicle registrations by 2025.
The policy’s objective is to promote the manufacture of Electric Vehicles and its components including Battery in the State, promote innovation and facilitate research and development in the areas relating to Electric Vehicles and Battery.
Under the new policy guidelines, it has been decided to extend financial incentives such as incentives available for manufacturing industries, purchase incentives, scrapping incentives, interest subvention in loans, waiving of Road Tax and registration fees during the policy period.
Further, under the policy, it has been decided to give incentives under the Start-up Policy of the MSME department.
The decision to bring up the policy was taken in order to reduce global temperature which has been rising rapidly over the last few decades.
So it has become necessary to reduce emissions caused by different categories of vehicles plying on the road using traditional fossil fuels which have been contributing to climate change.
The proposal for the policy said that therefore, the need for an Electric Vehicle Policy for reducing emissions by reducing the use of traditional fuel and accelerating the pace of adoption of electric vehicles in all vehicle segments.