Auto Budget 2023

Union Budget 2023-24: Government must work with after-sales mobility startups to launch skilling, training programmes

The automobile industry’s advancement is still highly dependent on after-sales service

Budget 2023-24 Expectation: BaaS for fixed batteries combined with MaaS would result in faster EV adoption

Despite all efforts made by EV industry and government, Internal Combustion Engine vehicles are still outnumbering EVs

Budget 2023-24 Expectation: Lithium-ion battery sector hopes for 5% GST cut from 18% on battery packs and cells

Since the electric vehicle industry is one of the major consumers of Li-ion batteries, both the EV and Li-ion battery manufacturing ecosystems are interrelated to a great extent in India

Budget 2023-24 Expectation: EV industry aspires reduction in GST, extension of FAME II subsidy

The upcoming budget is an opportunity for the government to take further steps to support the growth of the industry and make electric vehicles more accessible to Indian consumers