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JSW group to offer incentives to employee purchasing electric vehicles

News: According to media sources, JSW group as a part of its green initiative, has come out with an electric vehicle (EV) policy offering incentives to group employees purchasing electric vehicles. The policy will come into effect from January 1, 2022 and offers incentives up to Rs.3 lakh for purchase of electric 4-W & 2-W.

Views: This is a one of its kind policy and a first initiative at the corporate level to promote purchase of electric vehicles by employees. The brief contours of the policy are awaited but the initial gist implies further reduction in cost of ownership of EV and shall help accelerate its adoption domestically. The key beneficiaries of this move would be Tata Motors (with Nexon EV as flagship product) in our coverage universe.

Impact: Positive