Lithium-ion batteries are far more widely recycled than many people think, while China and South Korea are already leaders of the emerging circular economy of lithium, a report commissioned by the Swedish Energy Agency has found. An often-cited figure is that “5% of lithium-ion batteries are recycled”, when in fact this statistic, taken originally from […]
GST Reduced on Electric Vehicles
GST Reduced on Electric Vehicles – All the Upcoming EVs to Launch in India: Hyundai Kona, Maruti Wagon R EV & More Finance Minister Nirmala Sitharaman has announced the reduction of GST on electric vehicles from 12% to 5%. The Indian auto industry is set to witness a sea change as leading car companies across […]
Union Budget 2019: Modi govt bats for electric vehicles
NEW DELHI: Finance minister Nirmala Sitharaman presented Union Budget 2019-20 in Lok Sabha on Friday. The Modi 2.0 government proposed a slew of measures to boost electric vehicles. Here’s all you need to know about the initiatives announced for the automobile and infrastructure sector: ‘India will be a global hub for manufacturing of electric vehicles’ […]
Electric Vehicles To Get Major Boost As Govt Proposes GST Reduction, Tax Benefits
Total taxbenefits could go up to Rs 2.5 lakh for EV buyers GST on EVs set to go down from current 12 to 5 per cent. Buyers availing loans for EVs can save up to Rs 2.50 lakh on the interest rate, depending on their income tax bracket by the end of loan tenure. Govt […]
Union Budget Envisions India As A Global Hub For Manufacturing Electric Vehicles
Union Budget envisions India as a global hub for manufacturing electric vehicles Says inclusion of solar storage batteries and charging infrastructure in the fame scheme will Boost production Government has sought lowering of GST on electric vehicles from 12% to 5% Union Budget says government will provide additional income tax deduction of Rs 1.5 Lakh […]
Union Budget 2019: Govt’s initiatives will boost adoption of electric vehicles, writes Gaurav Karnik of EY India
The 2019 Union Budget has pushed significantly for adoption of electric vehicles and clean technologies as well as the infrastructure needed to make the EV dream a reality. In order to boost demand for EVs the government has provided an interest deduction of up to Rs 1.5 lakh on loans taken for purchase of a […]
Auto industry gets an electric boost in FY20 Budget
Finance Minister Nirmala Sitharaman’s maiden Budget provides tax incentives and GST cuts for electric vehicles. ‘The future is electric,’ reiterates the Union Budget 2019-20. In her maiden Budget speech on Friday, Finance Minister Nirmala Sitharaman announced an income tax deduction of ₹1.5 lakh on loans for electric vehicles to incentivise their purchase. The loan is […]
Battery Swapping For Electric Vehicles In India To Be Included Under FAME II?
The Federation of Indian Chambers of Commerce and Industry (FICCI) has recommended some changes to be made to the FAME II scheme. These changes include incentivising battery swapping stations. FICCI has said that incentives can be given to battery swapping stations just as it is being given to EV charging stations under FAME II. The […]
Government wants petrol stations to charge your electric vehicles
NEW DELHI: The government is looking to put in place a framework for a mega battery manufacturing and charging infrastructure — including the use of petrol pumps for electric charging points — to push electric vehicles (EVs) in the country. The finalisation of plans comes amid resistance from the powerful auto lobby to the mandate […]
Electric vehicles will help in cutting imports and pollution: Nitin Gadkari
Nitin Gadkari said his immediate agenda is to revive the stalled highway projects. Nitin Gadkari has lined up mega plans in his second innings as the minister of road transport & highways. In an interview with Prerna Katiyar, the Nagpur MP, who now also heads the ministry of micro, small & medium enterprises, speaks about […]