Bihar Electric Vehicle Policy 2023 Offers Government Subsidies and a Sustainable Future

Bihar, a state in eastern India, has passed the Electric Vehicle (EV) Policy 2023 on December 5, 2023, marking a significant step towards a cleaner and greener future. By offering a number of alluring incentives and subsidies to encourage the use of electric vehicles, this strategy seeks to completely transform the state's transportation industry. To ensure that everyone in the state of Bihar may profit from the scheme, every little detail pertaining to the Bihar Electric Vehicles Policy 2023 has been covered in full in this page.

Bihar Electric Vehicle Policy 2023 Highlights - 

A comprehensive strategy to encourage the use of electric cars (EVs) in the state is the Bihar Electric Vehicle Policy 2023. Its main objective is to increase the percentage of electric vehicles (15%) in all new car registrations by 2028 in order to support a more sustainable and clean transportation system.

Financial Incentives:

• Direct subsidies - Up to Rs 1.25 lakh for purchasing electric cars.
• 2-wheelers & 3-wheelers - Incentives based on battery capacity.
• Commercial vehicles - Incentives based on vehicle type and capacity.
• Interest subvention - On loans taken for purchasing EVs.
• Road tax exemption - For all EVs.

Bihar Electric Vehicle Policy 2023 Scope and Eligibility - 

Bihar EV Policy, 2023 shall remain effective for a period of 5 years from the date of publication of its notification in the Bihar Gazette. The Bihar Electric Vehicle Policy 2023 went into effect on December 5, 2023, and it will remain in force until December 4, 2028. Every expenditure associated with this scheme has been estimated for the next five fiscal years. The demand incentives provided by the Government of India's FAME-II scheme and any subsequently implemented adjustments would be in addition to the fiscal incentives provided by the policy.

Objective of Bihar Electric Vehicle Policy 2023 -

• Environmental sustainability - Reduce air pollution and carbon emissions.
• Energy security - Reduce dependence on fossil fuels.
• Economic development - Create new jobs and attract investments in the EV industry.
• Public health - Improve air quality and promote healthy lifestyles.

Mega Incentives in Bihar Electric Vehicle Policy 2023 - 

How to get subsidy on Electric Vehicles in Bihar? 

Official Notification of Bihar Electric Vehicle Policy 2023  - Click Here to download the Bihar Electric Vehicle Policy 2023