Rajasthan Government launches INR 2 billion e-vehicle promotion fund to boost EV adoption On February 11, Rajasthan government announced the establishment of an INR 2 billion E-Vehicle Promotion Fund under the Electric Vehicle Policy-2022 to encourage the adoption of electric vehicles (EVs) in the state.  The policy, aligned with FAME-2, includes provisions for reimbursing the State GST amount and offering a one-time grant from the promotion fun...

News  Updated at: 2025/02/18

which has resulted in the company being subject to high import duties, ranging from 70-100%. Government support promises a positive outlook The Indian government is providing significant incentives for BEV adoption compared to other hybrid types. For example, BEVs enjoy a 5% Goods and Services Tax (GST) rate, while Full Hybrid (HEV) and Plug-in Hybrid (PHEV) vehicles face a 43% GST rate, slightly lower than traditional ICEs but still higher than ...

News  Updated at: 2025/01/27

duction is expected to begin in Q2 FY 2025-26. Endurance Technologies is finalizing the acquisition of the leasehold land, with 50% of the land being used for this project and the remaining land reserved for future expansion. The planned INR 3,000 million capex includes the acquisition cost, net of GST credits Currently, Endurance manufactures alloy wheels at its Chakan, Pune plant, which has a capacity of 230,000 sets per month. (Based on Endura...

News  Updated at: 2024/10/11

se from about 44 units per 1,000 adults currently, to around 50 units in 2030, and 60 units in 2035. However, we remain circumspect due to the market’s recent history, which has been marred by various one-time factors such as demonetisation in 2016, the introduction of the Goods and Services Tax (GST) in 2017, the credit crunch in late 2018 to 2019 (following a default of a major non-bank financial company), and the COVID-19 crisis. Like many o...

News  Updated at: 2024/10/02

Heavy Industries. In its recommendations, ACMA proposed several key measures including incentivizing capex expenditure by reintroducing additional investment allowance provisions, increasing depreciation rates on plant and machinery in the auto component industry from 15% to 25%, and rationalizing GST rates on EVs and their components. It further, requested the Government for clarity on tax deductions on business benefits and perquisites under S...

News  Updated at: 2024/06/25

Germany starts nationwide trials of digital driver assistance systems for heavy-duty transport On June 12, the Federal Ministry for Digital Affairs and Transport (BMDV) announced that it is starting a nationwide trial operation with the federal states for so-called digital co-drivers for large-volume and heavy-duty transport (GST).  These are electronic driver assistance systems that navigate GST along the approved routes and simultaneously disp...

News  Updated at: 2024/06/12

use. Mahindra expects that as battery costs decline over time, the need for EV incentives will diminish as EVs become cost-competitive. Their long-term strategy remains a full transition to electric vehicles. Its decision was followed after the finance Minister of India confirming there would be no GST reduction for hybrid vehicles.  It cited that the EV penetration in is India currently at only 2% and growing EV sales will require developing su...

News  Updated at: 2024/05/23

l with 360-degree rotation, and a high-capacity hot-swappable battery for extended testing. Designed robustly, it can withstand heavy commercial vehicle testing. The LaunchPad Spin joins AB Dynamics' portfolio of Euro NCAP-approved propulsion systems, including the LaunchPad 50, 60, and 80, and the GST platform. It will be showcased at upcoming events like the JSAE Annual Congress in Yokohama and the Automotive Testing Expo Europe in Stuttgart. B...

News  Updated at: 2024/04/17

ing consumers away from diesel vehicles and towards hybrids, especially in the mid-to-large-size and SUV segments. Sales of HEV versions of key models such as Hyundai’s Grandeur and Santa Fe, plus Kia’s K8 and Sorento accounted for more than half of their total sales in 2023. India: Despite the GST tax rate for HEVs being in the same range as ICE and significantly higher than BEV, key OEMs such as Toyota and Suzuki have introduced more HEV mo...

News  Updated at: 2024/03/07

for the transfer of identified assets and business pertaining to the last mile mobility business to MLMML. Further, it approved investment in the equity shares of MLMML, up to an amount not exceeding INR 8.6 billion.Out of the above proceeds, MLMML will utilize approximately INR 8.24 billion (plus GST) towards the discharge of consideration for asset transfer and business transfer from the company. The balance amount will be used for stamp duty ...

News  Updated at: 2023/09/04

SAIC Maxus settles GST series pickup truck project in Wuxi, Jiangsu According to multiple press releases, on June 2, SAIC Maxus held a ceremony for the GST series pickup truck project and the signing of a strategic cooperation agreement on the upgrading of the New Energy industry. With a total investment of about CNY 3 billion, the signed project will make full use of and optimize production lines and tooling equipment in the existing factory are...

News  Updated at: 2023/06/07

FADA, India advocates GST reduction on two-wheelers to make it more affordable On May 18, The Federation of Automobile Dealers Associations (FADA), requested the GST Council, for a reduction in the GST rate on two-wheelers from the current 28% to 18%. It will help make two-wheelers more affordable, reviving demand and reinvigorating an industry that has seen a significant slump in sales over the past few years. Over the past few years, the prices...

News  Updated at: 2023/05/19

senger Vehicle density is forecast to increase from 44 units per 1,000 adults at present to only 55 units in 2030 and 65 units in 2035. We are cautious, as the Indian market in the recent past was significantly impacted by a number of one-time factors, such as the sudden demonetisation in 2016, the GST introduction in 2017, the severe credit crunch in late 2018 to 2019 (following a default of a major non-bank financial company) – and the COVID-...

News  Updated at: 2023/05/02

Auto Shanghai 2023: SAIC Maxus’ GST large battery electric concept pickup truck makes its global debut On April 18, at the Auto Shanghai 2023 event, SAIC Maxus debuted the GST large high-performance battery electric concept pickup truck globally and released images of the Mifa 7, a new battery electric family MPV of the Mifa New Energy brand. Concurrently, models such as the Mifa 9 and Mifa 5 electric MPVs, the Mifa 6 electric SUV, the G90 next...

News  Updated at: 2023/04/27

er vehicle exhibition areas, automotive technology and supply chain exhibition areas, and media areas. For Chinese automakers, SAIC Motor participates in the event with its sub-brands such as Roewe, MG, and Maxus, exhibits models such as the MG7 midsize coupe, the RX9 mid-to-large-size SUV, and the GST concept battery electric pickup truck, and unveils its all-new new energy strategies. BYD debuts the Yangwang U8 hardcore off-road vehicle, the Ya...

News  Updated at: 2023/04/20

n four variants i.e., AERA 4000, AERA 5000, AERA 5000+, ad 6000+. The pre-registration price for currently available variants is between INR 143 thousand for Aera 5000 and INR 154 thousand for Aera 5000+. The pre-register prices are considering the central government's support through subsidies and GST slab. The state government benefits can be availed of by the customers during the registration process. Further, AERA 6000+ will soon be launched ...

News  Updated at: 2023/03/01

9.08 billion, however, as per the revised estimates it was INR 28.98 billion. The budget estimates for 2023-2024 have been kept at INR 51.72 billion. During the speech, the minister also mentioned that to avoid cascading taxes on blended compressed natural gas, they propose to exempt excise duty on GST-paid compressed biogas contained in it. To further provide impetus to green mobility, customs duty exemption is being extended to the import of ca...

News  Updated at: 2023/02/02

the country which included the Ethanol Interest Subvention Scheme, The National Policy on Biofuels-2018, fixing remunerative prices of ethanol produced from different feed-stocks for supply to OMCs, amending the Industries (Development & Regulation) Act and also reducing the Goods and Service Tax (GST) on ethanol meant for Ethanol Blended with Petrol (EBP) Programme. Based on the PIB India press release (Release ID: 1885392)...

News  Updated at: 2022/12/22

Euro NCAP approves AB Dynamics, UK full test platform range On August 12, AB Dynamics announced that its LaunchPad product range (LP 50, LP 60, and LP 80) and the GST 120 (Guided Soft Target) have been approved for use in official Euro NCAP testing. The introduction of Euro NCAP’s 2023 protocols will result in more than 200 different VRU scenarios that could be selected as part of an official rating test. AB Dynamics’ mobile platforms enable ...

News  Updated at: 2022/08/17

Analyst projects car prices in Malaysia to increase by 1-3% if GST comes into effect again Reported on June 7, 2022, car prices in Malaysia may go up by 1% to 3% if the government decides to reintroduce the goods and services tax (GST), which is in contrast to when the sales and service tax (SST) was in effect in 2018, said the AmInvestment Bank analyst.The Malaysian PM recently unveiled that the government was mulling plan to bring back the GST ...

News  Updated at: 2022/06/09