Tesla-wall heated Modi Govt.. Different on new EV policy..!!
Tesla-wall heated Modi Govt.. Different on new EV policy..!!
CHENNAI: In order to increase the production of electric vehicles in india, there are reports that there is going to be a change in the new Electric Vehicle - EV Policy brought by the central government.
There is an opinion that the central government may have decided to change the restrictions of this policy since the American electric vehicle company tesla (Tesla) has not yet made a firm announcement about setting up a factory in india after bringing the new policy.
The central government hastily released a new EV policy ahead of the elections. The scheme, which basically aims to promote the production of high-end or high-end electric vehicles in india through the new EV policy announced by the central government, currently only supports new investments. That is, this policy was released with a plan to attract leading electric vehicle companies like tesla and BYD. However, due to Tesla's poor quarterly results, plans to set up a factory in india were shelved. Since BYD is a Chinese company, there is no opportunity to invest in india, and thus no new company has expressed interest in setting up a factory in india under this policy.
That is, it is expected that incentives can be given under the scheme to factories manufacturing electric vehicles along with those manufacturing petrol and diesel cars. This is expected to increase the production volume and lead the automakers to make large investments profitably. It seems that about six vehicle manufacturers Volkswagen, Skoda, Hyundai, Kia, andWinfast have shown interest in the central government's new EV policy (SMEC - Scheme for Manufacturing of Electric Cars). These are all existing companies in india, and the move will give Winfast the much-anticipated offer. Automakers' demand: Automakers have demanded that existing investments in the new electric vehicle program should be taken into account, and that electric vehicles and manufacturing plants should be included alongside petrol and diesel cars. It is based on this that the central government is currently consulting.
Currently, the share of electric vehicles in the indian passenger vehicle market is very low. Because of this, automakers feel that it is not profitable to make large investments in electric vehicle production. Since the announcement of this new EV policy on march 15, no automaker has officially announced any new investment. New Electric Vehicle Policy: In this new electric vehicle scheme, the central government announced on march 15 through this new policy to provide automobile companies manufacturing in india with the concession of the central government's huge PLI scheme and a huge tax concession on its imported electric cars. To get a concession under this new policy, a minimum amount of Rs 4,150 crore or 500 million dollars should be invested in india and the factory should be built and started production within 3 years. There is no maximum investment limit. Foreign electric vehicle companies that invest under the terms of the scheme will be subject to the same 15% duty imposed on cars imported in CKD form for electric cars with a CIF value of at least $35,000 (CIF is inclusive of shipping costs, insurance and freight charges). The important concession is that the tax will be levied for 5 years. This is the Jackpot offer that will be available to foreign electric vehicle companies that accept the rules of the scheme and invest. Electric cars with a CIF value of at least $35,000 (CIF is inclusive of shipping costs, insurance, andfreight charges) will be subject to the same 15% customs duty for 5 years as cars imported in CKD form.
CHENNAI: In order to increase the production of electric vehicles in india, there are reports that there is going to be a change in the new Electric Vehicle - EV Policy brought by the central government.
There is an opinion that the central government may have decided to change the restrictions of this policy since the American electric vehicle company tesla (Tesla) has not yet made a firm announcement about setting up a factory in india after bringing the new policy.
The central government hastily released a new EV policy ahead of the elections. The scheme, which basically aims to promote the production of high-end or high-end electric vehicles in india through the new EV policy announced by the central government, currently only supports new investments. That is, this policy was released with a plan to attract leading electric vehicle companies like tesla and BYD. However, due to Tesla's poor quarterly results, plans to set up a factory in india were shelved. Since BYD is a Chinese company, there is no opportunity to invest in india, and thus no new company has expressed interest in setting up a factory in india under this policy.
That is, it is expected that incentives can be given under the scheme to factories manufacturing electric vehicles along with those manufacturing petrol and diesel cars. This is expected to increase the production volume and lead the automakers to make large investments profitably. It seems that about six vehicle manufacturers Volkswagen, Skoda, Hyundai, Kia, andWinfast have shown interest in the central government's new EV policy (SMEC - Scheme for Manufacturing of Electric Cars). These are all existing companies in india, and the move will give Winfast the much-anticipated offer. Automakers' demand: Automakers have demanded that existing investments in the new electric vehicle program should be taken into account, and that electric vehicles and manufacturing plants should be included alongside petrol and diesel cars. It is based on this that the central government is currently consulting.
Currently, the share of electric vehicles in the indian passenger vehicle market is very low. Because of this, automakers feel that it is not profitable to make large investments in electric vehicle production. Since the announcement of this new EV policy on march 15, no automaker has officially announced any new investment. New Electric Vehicle Policy: In this new electric vehicle scheme, the central government announced on march 15 through this new policy to provide automobile companies manufacturing in india with the concession of the central government's huge PLI scheme and a huge tax concession on its imported electric cars. To get a concession under this new policy, a minimum amount of Rs 4,150 crore or 500 million dollars should be invested in india and the factory should be built and started production within 3 years. There is no maximum investment limit. Foreign electric vehicle companies that invest under the terms of the scheme will be subject to the same 15% duty imposed on cars imported in CKD form for electric cars with a CIF value of at least $35,000 (CIF is inclusive of shipping costs, insurance and freight charges). The important concession is that the tax will be levied for 5 years. This is the Jackpot offer that will be available to foreign electric vehicle companies that accept the rules of the scheme and invest. Electric cars with a CIF value of at least $35,000 (CIF is inclusive of shipping costs, insurance, andfreight charges) will be subject to the same 15% customs duty for 5 years as cars imported in CKD form.