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France: In the absence of cheap European-made EVs, a third of all incentives are going to consumers buying EVs made in China, a finance ministry source has said. The trend has helped spur a surge in imports and a growing competitive gap with domestic producers.
Tax Rules: Under the new regulation signed on Dec. 8 and released this week, companies that have invested in EV plants, are planning to increase their EV investments, or planning to invest would be eligible for the incentives. The new rules will remove the import duties and the luxury-goods sales tax on the built-up vehicles brought into the country and gives incentives on taxes collected by provincial governments.
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.
It is now important that initiatives and efforts at the city-level are given adequate focus. TERI, conducted a city-level readiness and capacity needs analysis on EV planning and deployment action chains. Given the early stages of EV transition and potential for Indian cities to jumpstart EV adoption, TERI tried to understand the status of EV readiness and ranking of Indian cities for EV planning and adoption. Though Indian cities have tremendous potential to accelerate EV adoption, the impact of city-level actions at large has been relatively under-explored with limited successes.
Future Of EVs In India: Although the current rate of EV adoption (~5% of the annual vehicular sales) is commendable, the nation has a long road ahead to meet the pledged target of 30% EV sales by 2030. Learning from global policies, including exemptions, incentives, mandates (fleet electrification), and regulations (zero-emission zones), could help accelerate EV adoption in India. While these policies cannot be applied directly to the Indian scenario owing to its diverse and unique market dynamics, there is an opportunity for policy innovation and transformation.