The process of presenting Budget 2022 has started, and the eyes of the electric vehicle industry are fixed on the announcement made by the Finance Minister today. You know, the EV segment is still in its infancy, and a lot of smaller brands are in line for this new EV revolution. It is believed that the budget 2022-23 will play an important role in the growth of this segment.
start awareness campaign
EV manufacturers have certain demands on both the supply and demand side of spectrum. Any decision taken today in this direction will lead people towards cheap and accessible EVs. Talking about what the EV industry wants from this segment, one of the biggest hurdles in EV adoption at present is the lack of consumer awareness and trust. In such a situation, the government should initiate and invest in awareness programs through various channels.”
Emphasis on manufacturing EV charging stations and batteries
Also the government needs to introduce EV charging infrastructure across the country to ensure better availability of electric vehicles. On the other hand, if the emphasis is on setting up battery manufacturing plants in the country, then electric vehicles will be cheaper. Because batteries are the biggest expense in the manufacture of electric vehicles. Whereas the Indian automobile sector is growing at an average rate of 24% due to incentives and subsidies to the electric segment.
may be announced on tax
Another issue that plagues the EV sector is that electric cars, bikes and scooters are taxed at 5%, while components such as battery packs of EVs are taxed at a higher rate of 18%. Due to which the cost of the companies increases, and this directly affects the price of EV.