New Delhi, 2 June (IANS). Alan Musk’s father Errol Musk has visited India this week. In the same series, Errol on Monday appreciated the distance-to-beson plan to attract new investment from global manufacturers in the electric car segment and to create India for e-vehicles Global Manufacturing Hub.
Errol, Domestic Sarvotech Renewable Power System Limited is a global advisor.
In a special conversation with IANS, Erroll said that 15 percent low customs duty on electric four -wheelers with minimum CIF (cost insurance and freight value) of $ 35,000 is a very good idea.
Errol, 79, said, “This is a very good idea. It is a way to move forward. Also this step will make many things easier for those who are already working in the EV area.”
According to the South African businessman, it is not easy to create a new high-tech electric vehicle with state-off-the-art technology.
“We should give all possible opportunities to help EV manufacturers to help them progress globally, not to disrupt them,” he told IANS.
Aroll has arrived in India for a focus on focusing on India’s Green Technology and EV charging infrastructure development.
Under the new EV scheme, companies will have to invest Rs 4,150 crore to establish manufacturing facilities in the country.
After this, these companies will currently be allowed to import 8,000 electric four wheelers annually at a low import duty of 15 percent against 70-100 percent.
The unused annual import limit will be allowed to be extended.
According to the government notification, the maximum number of electric vehicles imported under this scheme will be so that the maximum duty exemption per applicant is limited to Rs 6,484 crore or the minimum investment limit of Rs 4,150 crore, whichever is lower. At the same time, investment should be made for domestic manufacturing of eligible products.
The notification states that if the investment under the scheme is made on the brownfield project, then clear physical boundaries with existing manufacturing facilities should be determined.
-IANS
SKT/ABM
