Ev Import News Today

Tata Motors, Indias leading automaker, is reportedly exploring options to import Jaguar Land Rover (JLR) electric vehicles (EVs) under the recently announced government policy aimed at promoting EV adoption.

Thai Feb Car: Thailand is Southeast Asias biggest autos production centre and an export base for some of the worlds top carmakers, including Toyota and Honda, with pickup trucks among the key vehicles manufactured.

VinFast has started building a factory in the southern state of Tamil Nadu and hopes to start production by the middle of next year, for domestic sales first and then exports, its India CEO Pham Sanh Chau told Reuters.

Ev Sales: The detailed incentives are a follow-up to a December-announced tax incentives plan for imported EVs for manufacturers that match import numbers with domestically made EVs in coming years.

“Presently, there is no proposal either to provide exemption from local value addition cost or to provide subsidy on import duty on import of electric vehicles in India," Minister of state for commerce and industry Som Parkash said in a written reply to the Lok Sabha.

Concession: "Presently, there is no proposal either to provide exemption from local value addition cost or to provide subsidy on import duty on import of EVs in India," Minister of State for Commerce and Industry Som Parkash said. The government has also taken various steps to boost domestic and foreign investments in India to enhance local value addition under Make in India initiative, the minister said in a written reply to the Lok Sabha.

Tata Motors: India is working on a new policy to cut import taxes on EVs to as low as 15% for companies committing to some local manufacturing. The policy could allow Tesla to set up its India factory to make its proposed $24,000 car, while importing its more expensive models with lower tax.

The Narendra Modi-led government is considering tax cuts on the import of completely built units of electric vehicles for up to five years.

Brazil: The tax rate for imports of hybrid and plug-in vehicles will be set at 12% in January 2024, rising gradually to 35% in July 2026. For electric cars, the rate will start at 10% in 2024, also reaching 35% by 2026, according to a statement from the countrys industry ministry.