{"id":242367,"date":"2023-10-19T08:49:16","date_gmt":"2023-10-19T08:49:16","guid":{"rendered":"https:\/\/automotobuzz.com\/?p=242367"},"modified":"2023-10-19T08:49:16","modified_gmt":"2023-10-19T08:49:16","slug":"govt-may-reduce-import-duty-on-green-cars-to-15-but-theres-a-catch","status":"publish","type":"post","link":"https:\/\/automotobuzz.com\/news-features\/govt-may-reduce-import-duty-on-green-cars-to-15-but-theres-a-catch\/","title":{"rendered":"Govt. may reduce import duty on green cars to 15%, but there’s a catch"},"content":{"rendered":"

The government will also take guarantees from the companies towards creating an ecosystem for suppliers.<\/h2>\n

According to a media report, the government of India may create a policy for technologically sophisticated vehicle manufacturers like Tesla. In a bid to promote local manufacturing, the government could reduce the import duty on green cars.<\/span><\/p>\n

Reports suggest that import duty on green cars may be reduced from 100% to 15% if the carmakers agree to manufacture their vehicles in India. The government will also take guarantees from the companies towards creating an ecosystem for suppliers, with around 20% of parts being sourced locally in the first 2 years and up to 40% by the fourth year.<\/span><\/p>\n

The current customs duty policy does not differentiate between electric cars and ICE-powered vehicles. Hence, brands like Tesla, BMW and Audi want EVs to be categorized separately from luxury cars.<\/span><\/p>\n

Tesla has been in talks with the Indian government seeking tax benefits. The negotiations hit a roadblock in 2021 when the government insisted on committing to local manufacturing. Renewed talks were held in 2023 after the EV maker shared plans to set up a manufacturing base.<\/span><\/p>\n

Source:\u00a0ET Auto<\/span><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The government will also take guarantees from the companies towards creating an ecosystem for suppliers. 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