India reduced taxes on electric vehicles and chargers

30 July 2019

From August 1 in India reduce VAT on electric vehicles in 2.4 times, and on the charging station – 3.6 times

In India from 1st Aug, significantly reduced rates of tax on goods and services goods & Service Tax (GST). So, to charge electric vehicles (BEV) will be lowered from 12% to 5%, and for petrol and diesel passenger cars (ICE) will remain at 28%. Accordingly, GST on the charger and supercharger for electric cars is reduced from 18% to 5%. Authorities believe that these measures have to really encourage buyers exactly BEV, although at best they will be able to reduce the huge gap in prices between ICE and BEV, which will remain much more expensive and will be limited charging network.
However, the government is counting on additional incentives. Recently, the Finance Minister of India Ms. Nirmala Sitaraman announced additional deduction of tax from interest on credits for electric cars. Thus, customers will be able to compensate for the amount of 150 000-250 000 rupees (₽138-230 thousand). The Minister stressed that the strategic plan of the authorities is to transform India into a major center for the production of vehicles and batteries. Respectively, has been rescinded and taxes on imports of certain automotive components.

Indian carmakers ready to give the market in 2019/20 and 2020/21 financial years, a whole bunch of new electric vehicles

Reference: Reuters indicates that India is the third largest polluter of the atmosphere with emissions of CO₂, including on its territory there are 14 of the most dirty cities on the planet. This is not surprising when a huge share in the energy balance of coal and oil, which is 85%, given that only 25% of domestic consumption of petroleum products is covered by its own oil production. While the Indian power sector, with generating capacity constituting 5% of the world, today even forced to hold idle a significant portion of power plants due to low electricity demand! So, it is not surprising that this is a 1.35-billion dollar country is seeking by 2030 to increase the share of electric vehicles in the automobile Park, up to 30%. At present, this share is just negligible – only 2 thousand electric vehicles that much less than 1%. The spread of electric vehicles in India hinder a nascent charging infrastructure and prohibitively high price of the batteries, and through them and the cars.

The first Indian serial urban electric car the Mahindra e₂o

Until recently, the choice of electric vehicles in the Indian market were also insignificant: the original urban subcompact electromobility Mahindra e₂o c prefabricated plastic body and an electric motor with a capacity of 19 kW and ΜM=53 N·m at a price of 748 thousand RS,

Electrostan Mahindra eVerito until recently was the only model in the class

and converted from Dacia Logan Mahindra electrostan eVerito (30,5 kW, 91 N·m) with a range of up to 110. The price of 1.14 million rupees (₽1.05 million). Now the Indian market came as electrocreaser Hyundai Kona EV for 2.53 million (₽of 2.33 million).

Subcompact electrocreaser Mahindra eKUV100

In the fall of 2019 in 2020 in the Indian market will be a whole model line of electric cars as local brands: Mahindra eKUV100 (a range of 140 km and 1 million rupees) and XUV300 Electric (1.5 million rupees), 

Tata Altroz EV

Maruti-Suzuki WagonR EV (over 200 km and 900 thousand crore), Tata Altroz EV (250-300 km)

Electro hatchback costs Tiago EV

 and electro hatchback costs and electrostan Tiago EV and EV Tigor (range, 140 km from 800-900 thousand rupees and from 1.0-1.2 million rupees), and world brands: Audi e-tron, Jaguar I-Pace, the KIA Soul EV, Mercedes-Benz EQC, the Nissan LEAF, MG EZS, and the Renault Zoe City K-ZE.

Electrocreaser MG EZS

.