AMARAVATI: In a bid to encourage the usage of electric vehicles especially among government employees, the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) has formulated a new policy. which was approved by the Central Government. NREDCAP is a state-owned corporation and is the nodal agency for implementing e-mobility and all renewable energy programmes.

As a part of the policy, the corporation will facilitate the provision of one lakh electric two-wheelers to government employees and is preparing to launch the scheme in the first week of July.

While there are about 10 lakh government employees working in various government departments across AP NREDCAP aims to provide one lakh vehicles in the initial phase. Contracts with vehicle manufacturers where financing options to allow employees to pay monthly instalments directly from their salaries without any upfront payments are being discussed. Interested staff in public sector organizations was sent information to register their names online. NREDCAP said the vehicles will be priced based on battery capacity and speed. The manufacturer is also responsible for maintaining the vehicles for three years.

As per the e-mobility policy, the state government aims to phase out all the internal combustion engine (ICE) vehicles in four major cities including Visakhapatnam, Vijayawada and Tirupati by 2024, and across all cities by 2030.

The government has chalked out a plan wherein financial institutions will offer loans at cheaper interest rates to government staff, enabling them to buy electric two-wheelers. The state government has invited bids from the Original Equipment Manufacturer (OEMs) to offer electric two-wheelers under attractive equated monthly instalments.

The government is in talks with various companies to chalk out the loan plans, which can be repaid in 24 to 60 months, depending on the battery capacity of the vehicle making it an affordable financing option for the employees.

Also Read: AP Govt To Provide Affordable Loans For Its Employees To Buy Electric Two-Wheelers