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Karnataka Plans Tax Waivers for Hybrid Cars, Incentives for EVs
Karnataka plans to cut levies and offer financial incentives to companies in the clean mobility sector, including a steep tax cut for hybrid cars. The move could make the state, home to the tech hub of Bengaluru, the second after northern Uttar Pradesh to provide tax breaks to hybrid cars, for which Toyota has lobbied New Delhi.
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India's Manufacturing Incentives Progress Amid Efforts to Cut China Imports
Since 2020, India's cash incentives to boost domestic manufacturing have attracted over $17 billion (roughly Rs. 1,42,279 crore) of investment. The scheme, which offers four to six percent cash incentives on incremental sales to manufacturers, was launched across 14 sectors including electronics, pharmaceuticals, textiles and white goods.
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Ather Energy to Accelerate New Launches in India and Foreign Markets
Indian electric scooter maker Ather Energy will accelerate new model launches at home and test export markets, its chief executive told Reuters, raising new money to boost growth after the government lowered subsidies for the vehicles. In a surprise move in May, the government, without explanation, slashed cash incentives on the vehicles to a maxim...
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India Electric Mobility Council Urges Government to Continue EV Sector Incentives, Warns Impact on Sales
Industry body IEMC on Thursday demanded the continuation of incentives given to the electric vehicle sector and cautioned that the withdrawal of sops would reduce EV sales to 37 million units by 2030 from an estimated 125 million.
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How China Beat Everyone To Be World Leader In Electric Vehicles
In the race to reduce carbon emissions, countries from the US to New Zealand are doling out incentives to spur electric-vehicle sales - tactics China used for years as it turned into the biggest EV market on Earth.
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HP Must Face Lawsuit for Alleged Shareholder Fraud by Boosting Sales, Appeals Court Rules
A US appeals court on Tuesday revived a lawsuit alleging HP defrauded shareholders by secretly using unprofitable tactics to boost sales of its printing supplies in 2015 and 2016.
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Government Said to Consider $550 Million in Financial Incentives to Woo Apple, Dell, Asus: Details
The government is said to plan a boost in financial incentives for tablet and laptop manufacturers like Apple, Asus, and Dell, as it plans to take increase production in the country. The incentives could include payments over $550 million (roughly Rs. 4,500 crore) aimed at making the country an export hub in the long term. Incentives could go as h...
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India To Incentivize Rupee-Settled Exports To Boost Russia Trade: Report
India may give incentives to exporters settling trades using rupees to boost the acceptability of the currency and increase the sales of goods to Russia, which has fallen because of western sanctions, according to government and industry sources.
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Punjab National Bank Stops Digital Payment Incentive On Fuel Purchase
The lender said it has discontinued to pass on the 0.75 per cent fuel incentives from May this year
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TVS Aims to Scale Up Play in EV Segment by Leveraging Production-Linked Incentive Scheme
TVS has robust plans to scale up its play in the electric segment by leveraging various government initiatives like production-linked incentive scheme, among others. With the strategic association with BMW, the company will be exploring the joint design and development of urban EV options for the global markets.
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Aviation Ministry Invites Applications for PLI Scheme for Drones, Drone Components
The Ministry of Civil Aviation has invited applications for the Production Linked Incentive (PLI) scheme for manufacturers of drones and drone components, who have crossed the PLI eligibility threshold for previous financial year.
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Here's Why EVs Will Cause An Automobile Industry Revolution in India
The push for EV adoption is an important one for our future.
-
Hyundai Motor, Ola Electric Receive Incentives Under PLI Scheme For Advanced Chemistry Cell Battery Storage
Hyundai Motor Company and Ola Electric are now required to set up the manufacturing facility within a period of two years, as the incentive will be disbursed thereafter over a period of five years on the sale of batteries manufactured in India.
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Electric Scooters May Get Costlier by Rs. 45,000 in India as FAME Incentives Taper Off: Crisil
With a strong pick up in the adoption of electric two-wheelers which is translating into robust sales of e-two wheeler companies, there is also a possibility of electric scooters becoming costlier by Rs. 45,000 in fiscal 2025, says a Crisil report, which can be offset by the Production Linked Incentive (PLI) for EVs.
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115 Automotive Companies Apply For PLI Scheme: Ministry Of Heavy Industries
Incentives are applicable under the scheme for determining sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from April 1, 2022, onwards for a period of five consecutive years, the ministry said in a statement.
-
Karnataka Plans Tax Waivers for Hybrid Cars, Incentives for EVs
Karnataka plans to cut levies and offer financial incentives to companies in the clean mobility sector, including a steep tax cut for hybrid cars. The move could make the state, home to the tech hub of Bengaluru, the second after northern Uttar Pradesh to provide tax breaks to hybrid cars, for which Toyota has lobbied New Delhi.
-
India's Manufacturing Incentives Progress Amid Efforts to Cut China Imports
Since 2020, India's cash incentives to boost domestic manufacturing have attracted over $17 billion (roughly Rs. 1,42,279 crore) of investment. The scheme, which offers four to six percent cash incentives on incremental sales to manufacturers, was launched across 14 sectors including electronics, pharmaceuticals, textiles and white goods.
-
Ather Energy to Accelerate New Launches in India and Foreign Markets
Indian electric scooter maker Ather Energy will accelerate new model launches at home and test export markets, its chief executive told Reuters, raising new money to boost growth after the government lowered subsidies for the vehicles. In a surprise move in May, the government, without explanation, slashed cash incentives on the vehicles to a maxim...
-
India Electric Mobility Council Urges Government to Continue EV Sector Incentives, Warns Impact on Sales
Industry body IEMC on Thursday demanded the continuation of incentives given to the electric vehicle sector and cautioned that the withdrawal of sops would reduce EV sales to 37 million units by 2030 from an estimated 125 million.
-
How China Beat Everyone To Be World Leader In Electric Vehicles
In the race to reduce carbon emissions, countries from the US to New Zealand are doling out incentives to spur electric-vehicle sales - tactics China used for years as it turned into the biggest EV market on Earth.
-
HP Must Face Lawsuit for Alleged Shareholder Fraud by Boosting Sales, Appeals Court Rules
A US appeals court on Tuesday revived a lawsuit alleging HP defrauded shareholders by secretly using unprofitable tactics to boost sales of its printing supplies in 2015 and 2016.
-
Government Said to Consider $550 Million in Financial Incentives to Woo Apple, Dell, Asus: Details
The government is said to plan a boost in financial incentives for tablet and laptop manufacturers like Apple, Asus, and Dell, as it plans to take increase production in the country. The incentives could include payments over $550 million (roughly Rs. 4,500 crore) aimed at making the country an export hub in the long term. Incentives could go as h...
-
India To Incentivize Rupee-Settled Exports To Boost Russia Trade: Report
India may give incentives to exporters settling trades using rupees to boost the acceptability of the currency and increase the sales of goods to Russia, which has fallen because of western sanctions, according to government and industry sources.
-
Punjab National Bank Stops Digital Payment Incentive On Fuel Purchase
The lender said it has discontinued to pass on the 0.75 per cent fuel incentives from May this year
-
TVS Aims to Scale Up Play in EV Segment by Leveraging Production-Linked Incentive Scheme
TVS has robust plans to scale up its play in the electric segment by leveraging various government initiatives like production-linked incentive scheme, among others. With the strategic association with BMW, the company will be exploring the joint design and development of urban EV options for the global markets.
-
Aviation Ministry Invites Applications for PLI Scheme for Drones, Drone Components
The Ministry of Civil Aviation has invited applications for the Production Linked Incentive (PLI) scheme for manufacturers of drones and drone components, who have crossed the PLI eligibility threshold for previous financial year.
-
Here's Why EVs Will Cause An Automobile Industry Revolution in India
The push for EV adoption is an important one for our future.
-
Hyundai Motor, Ola Electric Receive Incentives Under PLI Scheme For Advanced Chemistry Cell Battery Storage
Hyundai Motor Company and Ola Electric are now required to set up the manufacturing facility within a period of two years, as the incentive will be disbursed thereafter over a period of five years on the sale of batteries manufactured in India.
-
Electric Scooters May Get Costlier by Rs. 45,000 in India as FAME Incentives Taper Off: Crisil
With a strong pick up in the adoption of electric two-wheelers which is translating into robust sales of e-two wheeler companies, there is also a possibility of electric scooters becoming costlier by Rs. 45,000 in fiscal 2025, says a Crisil report, which can be offset by the Production Linked Incentive (PLI) for EVs.
-
115 Automotive Companies Apply For PLI Scheme: Ministry Of Heavy Industries
Incentives are applicable under the scheme for determining sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from April 1, 2022, onwards for a period of five consecutive years, the ministry said in a statement.
