This Company’s Employees Will Get Rs 3 Lakh Incentive For Buying Electric Cars!

By Shreya Bose Last updated Dec 28, 2021

The policy is the first of its kind by a major Indian corporate.

In a bid to push adoption of electric vehicles (EV), JSW Group has launched a policy which would reward employees buying one.

The $13 billion JSW Group is ranked among India’s leading business houses with presence in sectors like energy, infrastructure, cement, paints, venture capital and sports.

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Incentives And Benefits

The policy, which is the first of its kind by a major Indian corporate, comes into effect from January 1, 2022.

It will provide up to Rs 3 lakh incentive for employees to purchase EVs – four-wheelers, as well as two-wheelers.

Apart from that, employees will also enjoy access to free-of-cost dedicated charging stations and green zones (parking slots) for EVs at all JSW offices and plant locations.

Reasoning Behind Policy

Company Chairman Sajjan Jindal said that the initiative is in line with India’s commitment at COP26 to have net-zero carbon emissions by 2070.

He spoke about the company’s goal to encourage participation among corporate and government bodies to support India’s transition to its target.

Apart from promoting adoption of EVs, the “unique initiative” will also enable access to green mobility, he added.

Company’s Commitment

In its contribution to the effort, it started adopting Best Available Technologies (BAT) to improve climate impact performance.

JSW Steel Ltd has adopted a specific climate change policy and set an ambitious CO2 emission reduction target of 42% over the base year of 2005 by 2030 (to a level 1.95tCO2/tcs).

It is operating a Carbon Capture and Utilisation (CCU) of 100 TPD capacity where the captured and refined CO2 is used in the beverage industry.

Why Switch To EVs?

Dilip Pattanayak, President & CHRO, JSW Group, says that the transport sector is currently the third-largest emitter of CO2 in the country.

He said that the JSW EV policy will set an example for others to follow and highlighted several positive qualities of EVs.

They are more efficient than traditional IC engine vehicles, more environment friendly and also cost effective.