The ‘EV- friendly’ Indian budget 2019 makes Tata Motors sprint forth the EV future
The day has finally passed and we now have the Bud et 2019 for India out! Before we go deep into how Tata Motors sees the same, let us quickly tell you that the latest budget in India seems quite promising for the concept of ‘Tomorrow’s mobility’.
Finance minister Nirmala Sitharaman has announced eye-popping tax cuts over the loans for EV-purchase. Clearly a step towards green tomorrows, this aspect of the Budget 2019 proves to be of great motivation for the country’s carmakers who are into EV manufacture.
Tata Motors, a key player in the Indian automotive arena had stunned the ‘green motor-geeks’ out here recently, by manufacturing and supplying EVs that are less of an ‘E-T’ and more of pretty in terms of design, green without any question and with commendably superior ranges to some of the major cities like Indore, Mumbai and Bangalore. The car in question here, a Tigor based EV from Tata has managed to get much customer appraisal so far.
Drawing inspiration from both these key-facts, Tata, according to its spokesperson, has decided to make the most out of the budget 2019, and increase their share in the EV segment.
Mr. Shailesh Chandra, President – Electric Mobility Business and Corporate Strategy, Tata Motors Ltd. with regards to the announcements on EVs in today’s Budget, commented : “The incentives announced today by the Finance Minister, in terms of, additional interventions and steps to support the EV adoption, reinforces a strong commitment by the government to steer electrification on a faster trajectory.
The proposal to lower the GST rate for EVs to 5% and reduction in duties of EV components, which we are studying, is a welcome step. It will help in further narrowing down the cost of ownership gap against ICE vehicles. Additionally, private buyers, who were earlier not considered for a subsidy through FAME 2, will now have a reason to seriously consider an EV with the tax exemption of up to Rs. 1.5 lacs.
Tata Motors has been proactively participating in EV ecosystem creation, aligned to government’s vision of achieving a high EV penetration by 2030. Today’s announcement further emboldens our resolve and we will further accelerate our efforts.”
With EV prices getting slashed by sums huge as 1.5 lacs, and the government setting the course towards a green tomorrow, we do believe that Tata Motors would do wonders in the EV arena soon, if not dominating it completely!
The Tata Tigor EV seems to be the best choice for a pioneer, as the Tigor sedan has had a decent run in the Indian market so far. The Tata Tigor has managed to gather a fairly big fan following with its flawless styling and impressive array of tech and features. Neither of these sees any change in the Tata Tigor EV as well, except for the powertrain!
Are we the only ones getting the feeling of the new union budget meaning more sales for the Tata Tigor EV? Well…