Raipur, Sept 9 (KNN) The state government of Chhattisgarh will offer new MSME Electric Vehicle (EV) battery manufacturing units financial assistance of up to 25 per cent of the capital investment made in plant under its State Electric Vehicle Policy, 2022.

The objective of its EV policy is to increase the adoption of EV, especially in the two-wheeler, public/shared transport, and goods carrier segments, reported Mercom India.

By 2027 it plans to make 15 per cent of all vehicle registrations to be battery electric vehicles (BEV).

From April 2022 the policy will be valid for five years and extendable to 10 years.

The planning, implementation and review of the policy will be undertaken by the state's Transport Department.

A state EV Fund will function exclusively, and all the incentives under the Micro, Small, and Medium Enterprises Development (MSMED) Act,

2006, will be extended to the manufacturers under the industrial policy until 2024, reported Mercom India.

For the purchase of EVs, the state government will provide financial support up to 10 per cent of the cost of the vehicle (excluding tax) or Rs 150,000 (USD 1,883) whichever is lower, either for individual use or commercial use, for five years until 2026-27.

Aiming to become the hub for EVs, the state government is encouraging local investors and manufacturers to associate with multinational agencies to boost the supply of EVs and set up charging infrastructure.  (KNN Bureau)