Mumbai-Based Conglomerate JSW Group Offering Rs 3 Lakh To Employees For EV. Check Eligibility

Under the new EV policy of the company, it will facilitate up to Rs 3-lakh incentive for employees to purchase electric vehicles — four- and two-wheelers

New Delhi: Come New Year and employees of this Mumbai-based conglomerate have new reasons to cheer.

JSW Group is offering up to Rs 3 lakh as an 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, according to news agency PTI.

What is the company offering in this initiative?

Under the new EV policy of the company, it 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.

Not only the financial incentives, but the employees will also get to avail free-of-cost dedicated charging stations and green zones (parking slots) for electric vehicles at all JSW offices and plant locations.

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.

Seshagiri Rao, Joint MD, JSW Steel & Group CFO, said in a statement, “JSW Group is committed to contributing towards the reduction in carbon footprint as a part of its ESG charter. One of the initiatives in this regard is to make a shift from fossil fuel-powered IC engine vehicles to the adoption of electric vehicles. The new JSW EV Policy will enable and encourage the adoption of electric vehicles in the Group.” 

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