“India May Cut Import Duty on Electric Vehicles by up to 40%”
India may cut import duty on electric vehicles by up to 40 percent, a move that comes in the wake of Tesla‘s visit.
As Reuters reported on Monday (August 9), senior government officials say the tax rate on electric cars will range from 60 percent to 40 percent for vehicles valued less than $40,000 and 100 percent on vehicles valued at more than $40,000. percent to 60 percent.
“We have not yet confirmed the reduction in duties, but discussions are on,” one of the officials said.
“Reducing import duty is not a problem as not many EVs are imported into the country. But we need some economic benefit out of it. We also have to balance the concerns of the domestic players,” a government official told Reuters.