Electric Vehicles share to be 15% of total vehicles in India in next 5 years

The PMO (Prime Minister’s Office) has approved at least 12 measures proposed by a committee of secretaries to help achieve 15% share of EVs in total vehicle sales in next 5 years. However the govt has not formulated a separate comprehensive policy on electric mobility as was being discussed earlier. The objectives of these clearances is to hasten rollout of respective decisions by ministries to provide incentives to manufacturers, buyers as well as electric mobility infrastructure creators. In this regard on 29th Jan-19 the department of revenue had calibrated basic custom duty and GST rates on EVs to make them competitive in domestic and global markets, as well as lowered duties on raw material imported for manufacturing components. The power ministry has issued guidelines for facilitating setting up of charging stations across cities and highways, while the housing and urban affairs ministry has notified an amendment to building code and town planning rules for provisioning of EV charging stations in private and commercial buildings.

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EVI Technologies plans to set up 20,000 charging stations across India

The Electric vehicle charging infrastructure provider EVI Technologies plans to invest around Rs 100 crore in the next 1.5 years to set up 20,000 charging stations (both home and public) across India. EVI Technologies was incubated at the Electropreneur Park funded by the Ministry of Electronics & Information Technology, has also tied up with BSES Rajdhani Power Ltd to set up around 3,000 EV charging stations in Delhi. EVI Technologies started its operations in Jun-2017 and offers its charging stations on lease for private users. It has presence in 16 different locations in 10 Indian states. It has got orders of 50 charging stations from EESL in Dec-2017 which is being currently installed in complexes of several ministries. While EVI will invest to set up those stations that will be leased out, BSES will provide charging connections with tariff set at Rs 5 per unit for stations in the Capital. #autojobs4u #ElectricVehicles #Technologies #ChargingStations #India #automotiveupd

LCV to benefit greatly from Indian middle class growth

Globally, LCVs account for 75% of commercial vehicles sales but in India, it is only 62%. Indian middle class which is growing at a healthy pace will bolster growth in the commercial vehicles space in India going forward and the biggest beneficiary will be the light commercial vehicles (LCV) segment The increase in urbanisation and consumption will lead to shifts in market segments and LCV will play a crucial role in last mile connectivity. Industry experts feel that there are 3 big challenges the industry needs to overcome to realise this sales potential which are lack of availability of finance due to liquidity crunch at NBFC, the upcoming BS-VI emission norms and a lack of drivers. With the introduction of BSVI, the cost hike will be much higher than the prediction of 5%-7%. The electric and autonomous vehicles are inevitable in future and the keys to growth will be reducing time taken to bring new models to the market, making vehicle platforms more flexible and dynamic, and st

Govt lowers import duty on EV components

Govt lowers the electric vehicle parts and components import duty from 15 to 30% bracket to 10 to 15% in order to promote domestic assembling of electric vehicles. The CBIC (Central Board of Indirect Taxes and Customs) has carved out a separate category for parts and components of electric vehicle for which customs duty has been lowered. The CBIC has removed customs duty exemption to battery packs for electric vehicles in order to boost “Make in India” initiative. Henceforth, import of battery packs for electric vehicles will attract 5 per cent tax. The new rates of duties have come into effect from from 30th Jan 2019. #autojobs4u #automotivejobs #EV

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