AP government offering this affordable plan to government employees

The Andhra Pradesh government has given a beneficial plan to government employees. Under this scheme government will provide affordable financing options to government employees working in the state to purchase electric scooters.

In this regard the Department of Energy, Non-Conventional Energy Development Corporation of Andhra Pradesh (NEDCAP) has come up with a plan for this in collaboration with Central government agencies such as National Thermal Power Corporation Limited (NTPC) and Energy Efficiency Services Limited (EESL). It is to be noted that 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. It is to be noted that 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. It is looking at a monthly repayment loan installment (EMI) of Rs 2,000 to Rs 2,500. It has stated that there are different brands available in the market that when once charged the vehicles can travel from 40 KMs to 100 KMs.

Here it is to be noted that the unit price of electricity used for charging EV vehicles in the state has been fixed at Rs 6.70. It has already set up 80 charging stations in the state and is setting up 400 new charging stations in 73 areas across the State.The Department of Energy said it was focusing on increasing the use of these cars in government departments and handed over 300 such cars to various departments so far. The AP State government proposes to phase out internal combustion engine (ICE) vehicles by 2024.

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