India EV policy to encourage local production of premium electric cars: Audi official
Indian government would encourage local production of premium electric cars in the country, a senior Audi AG executive said on Tuesday. Audi AG Vice-President, Sales Overseas, Andre Konsbruck said the Indian government is taking the right steps to accelerate the adoption of EVs in the country.
«The government seems to be very committed to sustainability and to the electric future,» he said in an interaction here while referring to the new electric policy.
Konsbruck said that India is perhaps the first market where a specific regulation is targeted towards premium cars.
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«So it might really accelerate the localisation of premium electric cars, which will automatically then also drive the demand,» he stated.
Last week, the Indian government approved an EV policy, under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of USD 500 million, a move aimed at attracting major global players like US-based Tesla.
The companies that would set up manufacturing facilities for EV passenger cars will be allowed to import a limited number of cars at lower customs/import duty of 15 per cent on vehicles costing USD 35,000 and above for five years from the date of issuance of the approval letter by the government.
At present, cars imported as completely built units attract customs duty ranging from 70-100 per cent, depending on the engine size and cost,
