CEF Insights

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December
Electric Mobility

Karnataka New EV Policy 2023-28: EV stakeholders eye buyers-centric subsidies

Author
Apoorv Minocha

Notable because

Karnataka stands out as one of the leading states in terms of electric vehicle (EV) registrations. The recently revised draft of Karnataka's EV policy sets an ambitious goal of attracting ~$6 billion in investments, with the potential to generate employment opportunities for 100,000 individuals.  However, stakeholders have also been advocating for manufacturing and consumer incentives to catalyse the targeted investments.

What to look out for in the months ahead

A CEEW-CEF analysis indicates that states offering incentives are likely to experience higher growth in EV sales volumes. However, the current iteration of Karnataka's EV draft policy does not specify the inclusion of direct consumer incentives. 

Will such incentives feature in the final draft? If incentives are introduced, what degree of EV growth will follow?