Chandigarh: ₹7.66 crore in incentives released for 1,246 electric vehicles in 8 months

The incentives have been provided against the purchase of 1,246 electric vehicles, including 326 four-wheelers, 895 two-wheelers and 25 three-wheelers

In a bid to encourage adoption of electric vehicles, Chandigarh Renewable Energy and Science & Technology Promotion Society (CREST) has released ₹7.66 crore in incentives since the launch of the Electric Vehicle policy in September last year.

Chandigarh administration had approved the standard operating procedure for the release of financial incentives under the five-year Electric Vehicles Policy, which was notified on September 20, 2022. (HT File Photo)

The incentives have been provided against the purchase of 1,246 electric vehicles (EVs), including 326 four-wheelers, 895 two-wheelers and 25 three-wheelers.

Besides, 40 incentive applications are still pending with CREST, the nodal agency for implementation of the EV Policy in the city.

“Of the total subsidy of ₹7.66 crore, ₹2.03 crore have been released for two-wheelers, ₹5.20 crore for four-wheelers and ₹13 lakh for three-wheelers,” said Sukhwinder Singh Abrol, project director, CREST.

40 incentive applications are still pending with CREST

The UT administration had approved the standard operating procedure (SOP) for the release of financial incentives under the five-year EV Policy, which was notified on September 20, 2022.

Under the scheme, direct incentive is being provided to users who purchase new EVs or hybrid vehicles from Chandigarh and get them registered with the local Registering and Licensing Authority (RLA).

According to the policy, the incentive will remain in operation through the policy period till September 19, 2027, or till the time the administration decides otherwise. But it is not available for the government sector.

An application for the incentive has to be submitted with the CREST CEO.

Abrol said the incentives were being released to the beneficiary within 15 working days of acceptance of all documents, subject to availability of funds. “A user will forfeit entitlement to the direct incentive if they do not submit a claim, complete in all respects, within three months from the purchase of new electric/hybrid vehicle,” he said.

He further said in case it was found the applicant had claimed the assistance on the basis of wrong facts, they will have to refund the amount, along with 14% per annum compounded rate of interest.

Such individuals will also face legal action and be debarred from grant of any incentive/assistance from the UT administration.