THE EV INFLUX

IT'S EARLY DAYS FOR FOREIGN CARMAKERS LOOKING AT THE GOVERNMENT SCHEME ON ELECTRIC VEHICLES

- YOGENDRA PRATAP

The newly announced incentive scheme for foreign carmakers to make EVs in India is about to get off the ground. According to government sources, a lot of carmakers have evinced interest in registering for the scheme. This includes some who are already present in the country as well as new companies taking the opportunity to establish a manufacturing base in India. But that does not mean there will be a long wait for new cars at lower prices, because once registered, these companies can start importing EVs at a duty of 15 per cent as opposed to 70 or 100 per cent as the case may be. The number of cars that can be imported at the incentivised rate is governed by the total amount the company is saving by paying duty at a lower rate. This amount can be equal to the total amount th