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Government to reduce import duties for EV?


Bhavish Aggarwal, CEO of Ola Group, is all set to launch its own range of electric scooters told that India should have confidence in its ability to build indigenous electric vehicles& disagrees with the views of Tesla & Hyundai on lower import duties for EVs in India. In March 2019, Hyundai & Kia Motors invested $300 million in Ola. Tesla has approached the Indian government to seek a reduction in the customs duty on its cars considering them to be EVs & not luxury automobiles. To which the government has agreed on a condition that Tesla manufactures its cars in India. Ola Electric is set to build a 500 acre EV manufacturing site near Krishnagiri in Tamil Nadu on the lines of Tesla’s Gigafactory in the US. The annual capacity of the plant by mid-2022 is going to be 10 million units & also hopes to export two-wheelers to Europe & Australia. A network of chargers for two-wheelers called Ola Hypercharger Network will include 5000 charging points in 100 cities.

Source: Economic Times

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