While U.S. and European automakers struggle with weaker demand for electric vehicles, China is churning out a growing number of small and cheap EVs that are taking over the domestic car market and other markets in Asia
Tata Import Of EV JLR: Tata Motors plans to import Jaguar Land Rover luxury electric cars to India under a new government policy that lowers import taxes for companies setting up local manufacturing. Learn more about Tata s initiative and the impact on the EV market in India.
Entry of global EV manufacturers like Tesla could help catalyse the segment. Government must ensure commitments on investment, localisation are adhered to
Firefly: A wave of Chinese EV makers are expanding in Europe as demand slows at home and they look to capitalise on a cost advantage versus Western rivals, which have been slower to adopt the new technology. The European Union, however, is investigating Chinese EV imports to see if they breach competition rules.
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.