Ladakh gets a new EV policy that will save you 10 percent!

The adoption of electric vehicles is a slow and steady process in India as the infrastructure ramps up to support them. The Union Territory of Ladakh, to speed up the process, has launched a new EV policy that is offering EV buyers 10% of subsidy.

Parking spaces in the region will also be reserved for electric vehicles.

Those of you residing in Ladakh and looking to buy an EV now have reasons to rejoice as the newly launched Electric Vehicle and Allied Infrastructure Policy is offering a 10% subsidy on the ex-showroom price of electric two-, three-, and four-wheelers. The subsidy is however limited to a maximum amount.

For electric two-wheelers, the subsidy has been limited to Rs 15,000. Three-wheelers will attract a subsidy of up to Rs 50,000, whereas four-wheeler passenger vehicles will be able to knock of up to Rs 2.5 lakh from the ex-showroom price of the vehicles. In case of both two- and four-wheelers, the subsidy amount is enough to cover most mass market electric vehicles, so buyers will be able to enjoy the subsidy on the full price of the vehicle. If the ex-showroom price of a vehicle does go up, the subsidy will be capped at the above stated amounts.

The Ladakh Administration is also offering incentives to those who set up EV charging infrastructure. It will reimburse 25% or up to Rs 5 lakh (which is lower) on equipment/machinery costs for the first 15 EV charging stations in the UT. On top of that, 10% of all notified parking spaces will also be reserved for EVs and the parking charge will also be reduced for the green vehicles.

The policy will run for period of five years, that is up to 2027.