{"id":1290303,"date":"2025-02-04T11:12:09","date_gmt":"2025-02-04T05:42:09","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1290303"},"modified":"2025-02-04T11:12:41","modified_gmt":"2025-02-04T05:42:41","slug":"electric-vehicles-batteries-will-become-cheaper-as-govt-takes-this-important-decision","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/electric-vehicles-batteries-will-become-cheaper-as-govt-takes-this-important-decision\/","title":{"rendered":"Electric Vehicles, Batteries Will Become Cheaper As Govt Takes This Important Decision"},"content":{"rendered":"\n<p>The Indian government has fully exempted <strong>basic customs duty on materials used in lithium-ion battery production<\/strong>. This move is expected to <strong>reduce EV manufacturing costs<\/strong>, making electric vehicles <strong>more affordable and accessible<\/strong> for consumers.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"465\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/02\/Untitled-design-70.jpg\" alt=\"Electric Vehicles, Batteries Will Become Cheaper As Govt Takes This Important Decision\" class=\"wp-image-1290319\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/02\/Untitled-design-70.jpg 1000w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/02\/Untitled-design-70-300x140.jpg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/02\/Untitled-design-70-768x357.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Strengthening Domestic EV Manufacturing<\/strong><\/h4>\n\n\n\n<p>Industry leaders believe this policy will help build a <strong>local manufacturing ecosystem<\/strong> for EV components. Currently, <strong>batteries account for 40% of an EV\u2019s cost<\/strong> and are primarily imported from <strong>China and Taiwan<\/strong>. <strong>Nirmal K Minda<\/strong>, chairman of Uno Minda, <a href=\"https:\/\/economictimes.indiatimes.com\/industry\/renewables\/evs-to-get-cheaper-as-govt-removes-customs-duty-on-battery-materials\/articleshow\/117841515.cms?from=mdr\">highlighted<\/a> that localizing <strong>battery, motor, and controller production<\/strong> will reduce dependence on imports and strengthen India&#8217;s <strong>EV supply chain<\/strong>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Support from National Manufacturing Mission<\/strong><\/h4>\n\n\n\n<p>The <strong>Clean Tech Mission<\/strong> and the <strong>National Manufacturing Mission<\/strong> aim to <strong>boost domestic EV production<\/strong>. <strong>Shailesh Chandra<\/strong>, president of <strong>SIAM<\/strong>, welcomed the <strong>exemption of customs duty<\/strong> on critical minerals like <strong>cobalt, lead, zinc<\/strong>, and <strong>lithium-ion battery scraps<\/strong>, stating that it will <strong>drive value addition<\/strong> in India\u2019s EV industry.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Encouraging Investment and Job Creation<\/strong><\/h4>\n\n\n\n<p>Finance Minister <strong>Nirmala Sitharaman<\/strong> has proposed adding <strong>35 more capital goods<\/strong> to the exemption list, further encouraging <strong>domestic battery manufacturing<\/strong>. <strong>Pritesh Mahajan<\/strong>, CEO of <strong>Revamp Moto<\/strong>, emphasized that this policy will <strong>lower production costs<\/strong>, attract investment, drive <strong>technological advancements<\/strong>, and create <strong>high-value jobs<\/strong> in the EV sector<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Indian government has fully exempted basic customs duty on materials used in lithium-ion battery production. This move is expected to reduce EV manufacturing costs, making electric vehicles more affordable and accessible for consumers. Strengthening Domestic EV Manufacturing Industry leaders believe this policy will help build a local manufacturing ecosystem for EV components. Currently, batteries [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":1290319,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6073,650],"class_list":["post-1290303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-batteries","tag-electric-cars"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Electric Vehicles, Batteries Will Become Cheaper As Govt Takes This Important Decision - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/electric-vehicles-batteries-will-become-cheaper-as-govt-takes-this-important-decision\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Electric Vehicles, Batteries Will Become Cheaper As Govt Takes This Important Decision - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"The Indian government has fully exempted basic customs duty on materials used in lithium-ion battery production. 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