Electric Cars
car&bike Team
Jul 5, 2019, 9:00 PM
The electric vehicle segment in the Indian auto sector has welcomed the announcements to give tax incentives on loans for EVs, as well as GST reduction on electric vehicles.
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car&bike Team | Jul 5, 2019Union Budget 2019: Govt Proposes Rs. 1.5 Lakh Income Tax Reduction On Loans On EVsThe government has offered exemption of income tax worth Rs. 1.5 lakh on loans taken for buying electric vehicles.1 min read
PTI | Jul 5, 2019India's First highway Corridors For E-Vehicles Expected By March 2020India's first highway corridors with charging stations for electric vehicles are expected to come up along the Delhi-Jaipur and Delhi-Agra highways by 2020, an official said. The combined stretch of the corridors on the Yamuna Expressway (between Delhi and Agra) and the National Highway 48 (between Delhi and Jaipur) will be 500 km, and 18 charging stations will be setup near toll plazas on the two routes, the official said. The e-corridors are proposed to be the first under the Ease of Doing Business Programme (EODB) of the Advance Services for Social and Administrative Reforms (ASSAR), a private entity which is supported by the central government, an official engaged in the project said.1 min read
car&bike Team | Jul 6, 2019Jaguar Land Rover To Build Electric Cars In The UKCar manufacturer Jaguar Land Rover said Friday that it will make electric cars at its central England plant, securing thousands of jobs in a major boost to post-Brexit Britain.1 min read
Sameer Contractor | Jul 5, 2019Budget 2019: Government Recommends Reduction Of GST From 12% To 5% On Electric VehiclesThe Union Budget for 2019 has been announced and Finance Minister Nirmala Sitharaman made a number of promises for the overall development of the country's economy. While there haven't been major incentives for conventional vehicles in the auto sector, the government has recommended changes to the Goods Services Tax (GST) council for electric vehicles (EVs) reducing the GST rate from the current 12 per cent to five per cent, in a bid to make the vehicles affordable. In addition, consumers will be provided with an additional income tax deduction of Rs. 1.5 lakh on the interest paid on the loans taken to purchase electric vehicles.1 min read
car&bike Team | Jul 3, 2019Tesla Delivers Record Number Of Electric Cars In Quarter, Shares Up 7 Per CentTesla Inc set a record for quarterly vehicle deliveries in a triumphant response to months of questions about demand for its luxury electric cars, sending shares up 7 per cent after hours on Tuesday. Tesla did not comment on profit - which is still elusive - but the robust deliveries could help jumpstart investor sentiment on Tesla, which has been challenged in recent months. Before Tuesday's after-hours spike, Tesla shares were down about a third from the beginning of the year.1 min read
car&bike Team | Jul 3, 2019Environment Ministry Acquires Electric Cars For Official Use To Combat Air PollutionThe Environment Ministry on Tuesday acquired electric cars for official use, a move aimed at reducing air pollution.1 min read
car&bike Team | Jul 1, 2019Toyota To Invest $2 Billion In Developing Electric Vehicles In IndonesiaThe Japanese carmaker said this month that it aimed for half its global sales to be from electric vehicles by 2025, five years ahead of schedule, and will tap Chinese battery makers to meet the accelerated global shift to electric cars.1 min read
PTI | Jun 30, 2019Include Battery Swapping For Incentives Under FAME-II Scheme: FICCIIndustry chamber FICCI called for the inclusion of battery swapping model of charging for incentives under FAME-II scheme on Friday to help the acceleration of electric mobility in India. The Rs. 10,000-crore Faster Adoption and Manufacturing of Electric Vehicles (FAME -II) envisages incentives mainly to 10 lakh registered electric two-wheelers, 5 lakh e-rickshaws and 7,090 e-buses.1 min read
