The policy also gives 100 per cent exemption on road tax and registration fee for electric tractors purchased and registered in the state as per the existing rules/guidelines applicable for tractors by the Transport Department, it said.
“To make Telangana a major base for EV and ESS (energy storage system) sectors and to attract investments worth USD 4.0 Billion and create employment for 120,000 persons by 2030 through EVs in shared mobility, charging infrastructure development and EV and ESS manufacturing activities,” the policy said.
Generate demand for battery storage solutions by driving EV adoption incentives and supply side incentives for battery manufacturing, it said.
To proactively support creation of EV charging infrastructure in the initial phase and eventually create a market for commercially viable EV charging business.
The policy called for developing Telangana as a global centre for cutting-edge research and innovation in electric vehicles, battery technologies and other emerging technologies such as autonomous/ connected vehicles.
The state government shall facilitate setting up of initial batch of fast charging stations in Hyderabad and other towns in a phased manner, by state entities and private players.
The government shall extend tailor-made benefits to mega and strategic projects on case to case basis.
Investment of more than Rs 200 crore in plant and machinery or providing employment to more than 1,000 people shall be categorised as mega project, according to the policy.
“Telangana has come out with an extremely comprehensive policy. We also ensured that energy story policy is clubbed in with the EV policy because these two are tight- knit ideas which need to work cohesively…we have taken a pragmatic approach while designing this policy and consulted industry leaders,” Rama Rao after unveiling the policy.
The government on Friday signed MoUs with five firms which are set to invest in the EV space.