India making electric vehicles cheaper will get more people to buy them

The emphasis is on the government to become a global manufacturing center for electric vehicles, because the government offered financial incentives to increase demand and reduced many regulatory restrictions.

Finance Minister Nirmala Sitharaman presented a new budget on Friday last year, where he said that his government will provide additional income tax deduction of 150,000 rupees (about $ 2,185) on interest paid on the purchase of electric vehicles.Electric  Vehicle Buyer around Rs. Can be deposited 250,000 in total profit over the entire loan period.

Puneet Gupta, Associate Director of Automotive Forecasting, said that car makers in India have said that the lack of demand prevents them from making large amounts of electric vehicles.

Electric vehicles, whose average sales price in India is 1.3 million rupees (about $ 19,000), initially only 12% of GST was levied. According to Gupta, this number was reduced by 5%.

Government is focusing partially on electric vehicles to reduce the dangerous level of pollution present in its major metros and reduce the dependence of India on oil.The global electric vehicle market is expanding, with some members from China, the United States and the European Union.

The International Energy Agency (IEA) said that the global electric car fleet increased by more than 5.1 million in 2018, which is more than 2 million more than the previous year, and the number of electric cars sold is almost Is double. China remains the world's largest electric car market

Gupta said that the IHS market prediction is that electric vehicles will make up about 4% of India's overall auto market sales by 2030 - it will be about 400,000 vehicles.