JSW Group Employees To Get Cash Incentive For Buying Electric Vehicles

JSW Group on Monday said that it will give up to Rs 3 lakh as incentive to its employees for buying electric vehicles across India from January 1, 2022.

"Aligned with India's Nationally Determined Contributions (NDCs) and Sustainable Development Scenarios (SDS) of The International Energy Agency (IEA), Mumbai-based multi-billion-dollar conglomerate The JSW Group has unveiled their latest Green initiative JSW Electric Vehicle (EV) Policy for its employees across India," the company said in a statement.

The company claimed that it is a first of its kind of an initiative by any major Indian corporate entity.

The new EV policy will facilitate up to Rs 3 lakh incentive for employees to purchase electric vehicles - four and two-wheelers. The policy aims to promote the adoption of electric vehicles across the group, it said.

Apart from financial incentives, free-of-cost dedicated charging stations and green zones (parking slots) for electric vehicles will be provided at all JSW offices and plant locations for employees, it informed.

Sajjan Jindal, Chairman, JSW Group, said, “Since the Prime Minister announced at Glasgow COP26 meeting that India strives to reach net-zero carbon emissions by 2070, JSW Group's new EV Policy is a unique initiative leading to increased adoption of EVs in India and enabling access to green mobility."

JSW Steel Limited has adopted a specific climate change policy and set an ambitious CO2 emission reduction target of 42 per cent over the base year of 2005 by 2030.

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