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Karnataka Govt Tweaks Electric Vehicle And Energy Storage Policy To Attract More Investments

The tweaked policy also offers production linked subsidy of 1 per cent on turnover for 5 years.

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Karnataka tweaks policy to woo electric vehicle makers

Karnataka tweaks policy to woo electric vehicle makers
By
IANS
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Electric vehicle.. Image Source: IANS News
Bengaluru, June 1 : The Karnataka government has amended its electric vehicle and energy storage policy to attract more investments in the e-mobility sector across the state, an official said on Tuesday.
"As decided at the May 27 state cabinet meeting, the Karnataka Electric Vehicle & Energy Storage policy of 2017 has been amended to give impetus to the electric mobility sector and attract more investments over the next 5 years," said state Industries Department Director R. Ramesh in the order issued on Tuesday.
As incentives provided under the 2017 policy were lower than those offered by other states, the amendment will enable 15 per cent capital subsidy on value of fixed assets over 5 equal annual payments for 50 acres of land for EV assembly or manufacturing enterprises.

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Karnataka puts on hold decision to sell 3,667 acres to JSW Steel

Read more about Karnataka puts on hold decision to sell 3,667 acres to JSW Steel on Business Standard. This comes amid opposition from within the ruling BJP and cases pending in courts

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