2019 Budget showed us that the government is all fired up about transforming india into a global EV manufacturing centre. Who could have imagined Finance Minister Nirmala Sitharaman announcing an additional tax benefit of Rs.1.5 lakh on the interest paid on loans taken for the purchase of electric vehicles (EVs)? But yes, this has happened. Besides, the government is also reducing the GST rate on electric vehicles from 12% to 5%.
Currently, only a handful of electric four-wheelers are available in india. The choices are limited to only Tata Tigor EV, Mahindra eVerito and Mahindra e20 Plus. However, the scenario is going to completely change in the coming twelve months. Several major car makers are expected to launch their EVs in the country. While domestic players like maruti Suzuki india and Tata Motors are lining up with their products, overseas car makers like hyundai, MG (Morris Garages) and audi will soon be driving their electric vehicles into india.
While india is already one of the most important car markets in the world, it is expected to become an EV hub as well. Below is the list of five important electric vehicles, which will soon be launched in the country.
