Home Business Today Budget 2021: What do electric vehicle manufacturers want?

Budget 2021: What do electric vehicle manufacturers want?

EV manufacturers are hoping that government will fasten its pace in creating a sufficient infrastructure for charging. Since the inception of the FAME-II policy in 2015, less than 1,000 charging stations exist in the country.

The country is slowly witnessing a boom in electric car segment. There’s growing consensus between automobile manufacturers and the public alike that the future of vehicles is electric. In 2020, two new electric cars were launched -Tata Nexon, MG ZS EV, and Mercedes Benz EQC 400. Besides, a range of other electric cars will be launched this year, for instance, Mahindra EKUV100, Porche Taycan, Tata Altroz EV, Maruti Wagnor EV etc.

In fact, Tata Motors-owned luxury carmaker Jaguar Land Rover reported 50 per cent of its retail sale from electric vehicles in the second quarter of FY21. Additionally, the world’s largest electric vehicle automaker, Tesla has also entered India. Elon Musk’s company has registered a new R&D office in Bengaluru

However, there are still many hurdles that need to be overcome. As the Finance Minister takes on the stage to present the Budget 2021, EV manufacturers would be hoping for a few measures.

EV manufacturers are hoping that government will fasten its pace in creating a sufficient infrastructure for charging. Since the inception of the FAME-II policy in 2015, less than 1,000 charging stations exist in the country.

Further, EVs consume a huge amount of time to get charged. The charging technology, even with the most superior ones, takes up to 50 minutes to deliver a full charge. EV manufacturers have suggested the government to allow charging stations not only at fuel stations but other places like cinema halls, cafes, or movie halls.Additionally, EV manufacturers would hope for policy changes as well as easy finance and reduction of GST on batteries. Although the government reduced GST on lithium-ion batteries to 18 per cent, it is still higher when compared to the factory-fitted battery in an electric vehicle. A lithium-ion battery fitted in an EV attracts 12 per cent GST, the same as an EV, but it would attract 18 per cent GST when sold separately.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

अब 1 मिनट में इस टेक्नोलॉजी से होगी कोरोना की जांच, दिल्ली और मुंबई एयरपोर्ट पर टेस्टिंग शुरू होंगे

कोविड की तीसरी लहर को लेकर बढ़ती चिन्ता और इंडियन मेडिकल एसोसिएशन (IMA) द्वारा इस अपेक्षित लहर के प्रति सतर्क किए जाने के बीच...

Ease of Doing Business calls for global innovation & technology solutions to test COVID under 1 minute

Amidst growing concerns and raising alarms by Indian Medical Association over imminent and inevitable 3rd wave of COVID, India’s leading emerging tech prototyping agency...

Experts say COVID will be reduced to an endemic in future

Center, Prime Minister of Delhi Arvind Kejriwal and his cabinet colleague Satiendra Jain learned last year to live with the coronavirus and said that...

1 min COVID test TECH invited for commercial PILOT in India, says Abhijeet Sinha

"We are looking for testing technologies that give instant results. So that we do not end up locking down everything in the predicted third...