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India plans massive incentive scheme for production of batteries
- Friday | 25th September, 2020
India plans to retain its import tax rate of 5% for certain types of batteries, including batteries for electric vehicles, until 2022, but will increase it to 15% thereafter to promote local manufacturing, the document said. While China accounts for 80% of the world’s lithium-ion cell production, India has introduced stricter investment rules for Chinese companies. It did not offer an estimate of how many electric cars it expected to be on the road by 2030. NITI Aayog has been the driver of several key India government policies including the planned privatisations of a swathe of state-owned companies. (Reporting by Neha Arora and Aftab Ahmed; Additional reporting by Aditi Shah; Editing by Aditya Kalra and Edwina Gibbs)Related article: Electric cars’ Achilles heel – the range of the batteries
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