India Import Data
An Electric vehicle works with an electric motor instead of a conventional internal combustion engine. Theses vehicles have a large battery. They need to be charged in a charging station. An important difference between electric vehicles and internal combustion vehicles is EVs do not require a fuel tank or emit greenhouse gases. The exhaust emitted from internal combustion engines of conventional vehicles is one of the major causes of increased levels of greenhouse gases around the world. The Government of India is providing multiple incentives to promote manufacturing EVs in India. The regulations aim to provide affordable, safe, reliable, and accessible electric vehicles.
The global electric vehicle import data shows that 10.6 billion USD electric vehicles were imported globally in 2018. Analysis of the data showed India imported 17 million USD electric vehicles in 2018. Imports in India accounted for 0.2% of worldwide imports of EVs.
Electric vehicle import data is made from custom ports across the country. The information is collected from the bill of laden, shipping manifest, and other documents submitted to customs officials at the time of clearance. The information submitted to the authorities is used to calculate import duty to be paid. The electric vehicle import data contains the following data:-
According to the electric vehicle import data of India, the government of India raised import duty ranging from 10 to 40% depending on the segment. With the increases of import duty the government hoped to encourage local manufacturers to produce EVs. Electric commercial vehicle import duty increased from 25% to 40%. The import duty of semi-knocked down versions of passenger cars and 3-wheelers has increased from 15% to 30%. The semi-knocked down electric buses, trucks, and two-wheeler import duties have increased from 15% to 25%. To promote the manufacturing of EVs within India the government offered import exception for certain parts of EV components.
According to the electric vehicle import data of India, India imports electric vehicles from China, Romania, Germany, France, and Sweden.
Major Electric Vehicle Importers in India are:-
The Electric vehicle industry in India is an emerging industry. Presently electric vehicles account for less than 1% of total vehicular sales in the country. Most electric vehicles sold today are low-speed electrical scooters. Major OEMs such as Suzuki, Tata Motors, Mahindra and Mahindra, MG Motors, and Hyundai Motors have ambitious plans to manufacture indigenous affordable electric vehicles in India.
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