Odisha's Financial Boost Powers Electric Vehicle Surge

The Odisha government has granted a subsidy of Rs 154.27 crore to electric vehicle (EV) owners from the 2022-23 financial year. The initiative has sparked an increase in EV registrations, with subsidies ranging up to Rs 30,000 per vehicle. The trend shows significant growth in the EV market.

The Odisha government has so far provided a subsidy of Rs 154.27 crore to electric vehicle owners since the 2022-23 financial year, a minister said on Thursday.

The sale of EVs has shown an increasing trend in Odisha, following the introduction of the subsidy on September 1, 2021. Transport Minister Bibhuti Bhusan Jena detailed the progress in a written statement to the assembly.

The state has disbursed Rs 8.83 crore in subsidies during 2022-23, which increased to Rs 57.21 crore in 2023-24. The number of subsidized EVs also rose sharply from 14,182 in 2022-23 to 36,518 in 2023-24, with 38,766 EVs benefiting in 2024-25 till August.

The government offers a maximum subsidy of Rs 20,000 for each electric two-wheeler and Rs 30,000 for three-wheelers, depending on battery capacity.

(With inputs from agencies.)