EV policy to encourage production of premium electric cars: Audi official
Vice President Sales Overseas of Audi AG, Andre Konsbruck (Photo: Audi)
The new electric vehicle policy unveiled by the Indian government would boost local production of premium electric cars in the country, a senior Audi AG executive said on Tuesday.
Audi AG Vice President Sales Overseas Andre Konsbruck said the Indian government is taking the right steps to accelerate the adoption of electric vehicles in the country.
“The government seems to be very committed to sustainability and the electric future,” he said in an interaction here, while referring to the new electricity policy.
Konsbruck said India may be the first market where specific regulations target premium cars.
“So it could really accelerate the localization of premium electric cars, which will then automatically drive demand as well,” he said.
Last week, the Indian government approved an EV policy under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of $500 million, a move aimed at attracting major global players such as the US Tesla. .
The companies that would set up manufacturing facilities for EV passenger cars would be allowed to import a limited number of cars at reduced customs/import duties of 15 percent on vehicles costing $35,000 and above for five years from the date of issuance of approval. letter from the government.
Currently, cars imported as fully built units are subject to customs duties of 70 to 100 percent, depending on engine size and cost, insurance and freight value of less or more than $40,000.
Calling the Indian market a very important and strategic market for the German luxury car maker, Konsbruck noted that the premium segment is expected to touch the 1 lakh units per annum mark by 2030.
He noted that Audi will maintain a flexible approach by offering both internal combustion engine and battery-electric vehicles for the Indian market.
“So that means that we will have a completely new ICE portfolio and we will have a completely new and wide range of electric cars. This means that we are completely flexible to respond to market demand,” Konsbruck noted.
When asked if the company would consider local production of battery electric cars in India, he said, “We are currently evaluating different scenarios. I hope we can make a decision soon.”
Audi India is currently importing its entire EV range, comprising Q8 50 e-tron, Q8 55 e-tron, Q8 Sportback 50 e-tron, Q8 Sportback 55 e-tron, e-tron GT and RS e-tron GT, into the country .
The automaker expects that 50 percent of its sales in India will come from electric vehicles by 2030.
Worldwide, Audi has decided to become a fully electric car manufacturer from 2033.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First print: March 19, 2024 | 11:03 PM IST