Haryana Electric Vehicle Policy, 2022
Dear Businessman/Investors, Welcome in KIP’s Blog, today we are going to share with you a New Subsidy Policy i.e., “Business opportunity for Research and Development for Electric Vehicle Segment under Haryana Electric Vehicle Policy, 2022”.
There is need to make the development in the usage of electric vehicles which is highly demanded in the near future. For which Government has to promote the research and development in this field with the support of education organisation, private institutions etc. The scale of this business has been grown in the future and wider scope for the private sectors as well to initiate the same. The government support private sectors for R&D to make the compatible and eco-friendly electric vehicles throughout the state.
This scheme is notified on 8th July, 2022 and come into effect on 10th July, 2022 which provide the various subsidy to research and development for electric vehicle components. The scheme is valid for next 5 years.
Financial Assistance/Subsidy/Benefits Available:
The Quantum of Assistance as under would be provided in the State as per the given below terms:
A.For Educational or Research Institutes setting up R&D centers:
- Subsidy @50% of project cost to first 5 selected units developing new electric charging technology subject to maximum Rs 1 crore.
- Subsidy @ % of project cost to first 5 selected units developing new electric vehicle technology subject to maximum Rs 5 crore.
B. Subsidy @ 50% of project cost subject to Rs 5 Crore for First 10 selected Research Institutes / research centers conducting dedicated research on non-fossil-fuel based mobility solution for developing new technology.
C. Subsidy of Rs 25 lakh to first 20 college / ITI/ Polytechnic that apply for setting up of infrastructure related to R&D under EV segment.
Beneficiary of this scheme:
Any individual or entity are eligible to get the benefit under this scheme who commenced the business on or after 10.07.2022. The eligible enterprise should comply with the conditions as follow:
- Research Institute / Research Center already working on R&D in auto sector or e- mobility sector.
- Private or Government owned educational institutes where higher education / university education is provided to students involved in R&D specific to EV / EV technology / Charging technology
- Expenditure prior to the date of acknowledgment of Application, shall not be considered for determining eligible expenditure under the Scheme
- The Educational or Research Institutes or Research center shall have a domestic status i.e. more than 50% of the capital in it shall beneficially be owned by resident Indian citizens and/ or Indian companies
Time Limit to apply under this scheme:
The application window shall be open from 10.07.2022 till 2027. Any entity can apply for this scheme.
Note: Units availing incentive under this scheme will not be eligible to avail similar incentive in any other Haryana Government policy.
So if you are going to plan for set up a New Business Unit then You should plan and kept on mind the above said policy.
If you want to avail the benefit of other subsidy scheme like stamp Duty
Then you can fill this form :- https://forms.gle/mQ7q4T2rDBPt868t6
Or also one good news for businessmen who are missing the subsidy benefits
KIP has brought a Business and Subsidy Update Plan
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