German luxury car maker BMW believes that reducing import duties on electric vehicles (EVs) for a limited time or for a limited number of units will help create demand to facilitate the manufacture of these vehicles by India and bring new technologies to the country more quickly. , according to a senior company official. The company, which has been manufacturing many of its vehicles sold in India for the past 15 years locally, sees creating demand as key to localizing manufacturing.
“What we always do is create demand for a model and then localize it. We believe that these new technologies also have potential to be localized in the future, but you have to create mass demand for that mass. critical (for local manufacturing to be viable), “BMW Group India President and CEO Vikram Pawah told PTI.
The only way to do that, he says, is to speed it up, create the demand before the infrastructure develops, or create the demand that will create the infrastructure.
“Then we can locate those technologies that are mature then and then we can apply them in the country,” he added.
Pawah added: “For this, what we expect from the government is a very simple thing, that yes, we have some reduction in import duties, but only for a limited time or limited quantities.”
According to him, the justification for such a request is “it will allow us to achieve both objectives.” We will be able to continue manufacturing in India and we will be able to introduce these technologies more quickly in India ”. Reiterating that the company has always maintained this position, Pawah said, “It’s what our consistency has always been that at all times we should be doing it for all new technology. It will even allow security technologies, the environment and green technologies to enter India faster. . ”
Currently India imposes a 100% import duty on fully imported cars with a CIF (cost, insurance and freight) value above USD 40,000 and 60% on those priced below this amount. .
The German luxury car maker has announced that it will launch three electric vehicles over the next 6 months in India to accelerate its electric mobility journey in the country.
For starters, the company will launch its all-electric iX SUV within the next month, followed by the all-electric MINI luxury sedan in 3 months.
These will be followed by the launch of the all-electric BMW i4 sedan in six months.
This story was posted from an agency feed with no text editing. Only the title has been changed.
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