The Uttar Pradesh (UP) government has introduced new provisions in its electric vehicle (EV) policy to boost battery-powered vehicle manufacturing in the state. CM Yogi Adityanath has announced that his government will provide subsidies and incentives to those who invest in the skills development of employees in the electric vehicle manufacturing sector.
In addition to the skills development grants offered to companies investing in electric vehicle manufacturing in the state, there will be separate financial incentives to train staff in selected years. The latter is also regulated in the state’s electric vehicle manufacturing and mobility policy, according to a government statement.
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According to these provisions, “according to the ¥5,000 per employee per year will be provided as a subsidy to up to 50 employees for all defined manufacturing items. ” There will also be subsidies for training up to 10 staff in a given year.
However, these subsidies are only applicable to employees who have worked in the applicant manufacturing unit for 12 months before participating in the training program. Furthermore, the government statement added that training programs must be accredited by the National Skills Development Corporation or the Uttar Pradesh Skills Development Corps or any central or state universities, colleges and ITIs or polytechnics.
These projects will receive a promotion letter from the state government on a “first come, first served” basis. These projects must meet certain conditions, such as the start of commercial production and the sum of all financial incentives not exceeding 100% of fixed capital investment.
In another development, Tauschen International Ltd, a Hong Kong-based company owned by the Tauschen Group of Companies, has signed a memorandum of understanding with the Uttar Pradesh government to invest heavily in electric vehicle manufacturing in the state.
(input from ANI)
First published date: May 11, 2023 at 13:06 PM CST