India Considers Slashing Import Duties On Electric Cars By Up To 40

Citing the potential boom of electric vehicles, India is looking to slash import duties on electric cars from foreign manufacturers. Previous reports stated that India might offer lower production costs for EVs than China. Now, as per a recent report, the Indian government has proposed to cut the import duty on electric vehicles by up to 40% just days after Tesla CEO Elon Musk complained about the high tax rates on automobiles in India.

“Reducing import duties is not a problem as not many EVs are imported in the country. But we need some economic gain out of that. We also have to balance the concerns of the domestic players,” said the government official.