Abstract:

The Electric Vehicle Industry is rapidly expanding its footprint around the globe. Given the ongoing shift in automobile industry from Internal Combustion Engines (ICE) Vehicles to Electric Vehicles (EVs), Governments and Manufacturers are starting to invest in developing automobiles running on alternate propulsion systems including electric mobility based on rechargeable batteries. This not only includes manufacturing of electric vehicles, but also battery manufacturing, charger/ equipment manufacturing and development charging infrastructure to promote electric mobility. In order to capture the opportunities in this sunrise sector, attract investments and contribute to sustainable development, the State Government of Uttar Pradesh is bringing the New Electric Vehicle Manufacturing and Mobility Policy 2022. The policy provides an overaching framework to provide a favourable ecosystem for promoting the EV Industry in the State, which may be supported by several initiatives taken various State Departments/ Agencies. It promotes faster adoption of EVs, reducing the cost of manufacturing rechargable battery for EVs, attracts private investments for creation of charging infrastructure in the State and manufacturing of EVs and related component for large scale job creation. The policy has been prepared after extensive stakeholder consultations with several Government stakeholders, industry associations, key industry captains, institutions, etc.