GST on Electric Vehicles Reduced to 5%, Tax Benefits Up to Rs. 1.5 Lakh on EV Loan: India Union Budget 2019

Posted by MarketsandMarkets on Jul 8, 2019 3:47:26 PM

To promote EVs in India on a larger scale, the Indian government in its Union budget today (5th July 2019) announced a reduction in GST from 12% to 5% for the electric vehicles sold in India. To make EVs more affordable for Indian consumers, the Indian government will also provide an additional income tax deduction of Rs. 1.5 lakh on the interest paid on the loans taken to purchase EVs.

Read More

Topics: Automotive and Transportation, electric vehicles market

Sono Motors unveiled production design of the “Sion,” an electric car partially powered by solar panels on the vehicle

Posted by MarketsandMarkets on May 10, 2019 6:52:05 PM

On 4th March 2019, Sono Motors, a German electric vehicle start-up, unveiled an updated production design of the Sion, an electric car with full-surface integrated solar cells. These solar cells are embedded in hard-wearing and resilient polymer, which also contribute to the vehicle’s design aesthetic. The Sion is aimed at the European market. Sono Motors started registering pre-orders for Sion and has successfully recorded registrations for more than 9,000 units. The company declared that it would initiate the production of Sion in Sweden by mid-2020.

Read More

Topics: Automotive and Transportation, solar vehicle market, electric vehicles market, solar cells

Recent Posts

Subscribe Here!

Posts by Tag

See all