India News | MP Govt to Reimburse Cost of Infrastructure to EV Manufacturers: CM Chouhan
Get latest articles and stories on India at LatestLY. To attract investment in electric vehicles manufacturing in Madhya Pradesh, the state government will reimburse the cost of basic infrastructure and product patents to EV units, Chief Minister Shivraj Singh Chouhan said here on Friday.
Indore, Apr 29 (PTI) To attract investment in electric vehicles manufacturing in Madhya Pradesh, the state government will reimburse the cost of basic infrastructure and product patents to EV units, Chief Minister Shivraj Singh Chouhan said here on Friday.
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The state government will soon present its new investment promotion policy for the units producing EVs and their parts as it has especially focused on this area, he said, speaking at the first `Madhya Pradesh Auto Show'.
Under the proposed policy, the Madhya Pradesh government will reimburse the cost incurred by an industrialist for developing roads and water and electricity supply facilities for establishing new EV manufacturing units on private land or undeveloped government land, Chouhan said.
For promoting research and development in EVs, the state government will also reimburse the cost of product patent and quality certification.
The new units will also get relaxation in stamp duty and power tariff besides other necessary support, Chouhan said.
The auto show has been organised by the state government. It will be an annual feature, he said.
The government wants to develop the Pithampur industrial area as a major global center for the automobile industry, the chief minister said.
Automobile major Eicher Motors and Confederation of Indian Industry (CII) will provide a building and create basic infrastructure for a Skill Development Academy which will come up on a two-acre piece of land, Chouhan announced.
The state government will also unveil its start-up policy in May. It will provide for funding for young entrepreneurs pursuing innovative business projects, he said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)