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Pre-Budget Quotes 2022 | EV Industry

Shubhankar Chaudhry, the CEO of One Moto India, said, “To create a robust ecosystem for Electric Vehicles and give a boost to the EV market, the Indian government should focus on putting EVs in the priority lending sector. Currently, very few NBFC’s and financial institutions are providing affordable lending to potential end-users and fleet operators. Additionally, the government needs to push for more R&D in affordable and indigenous battery technology development, which is currently the biggest pain point for EV players. Our current dependence on lithium imports, of which Chinese players dominate 90%, is a strategic disadvantage for Indian EV manufacturers.”

Mr. Mridu Mahendra Das, Co-founder and CEO, Automovill, said, “Post-pandemic, the startup ecosystem is booming at a neck break speed in terms of funding and adoption. However, an increase in economic activity is yet to be seen, which is giving revenue pressure for startups. Govt should introduce some flexibility in attracting or remitting foreign funds for companies registered under startup (DPIIT programs). It should help startups ease the processes involved, give laxity in penalties for any delay in GST or such statutory filings, ensure quick resolution of any disputes of compliance-related matters. It will save a lot of time for founders to focus on work and ease the funding process, which gets on hold for such statutory filings.

Specifically, in the after-sales automotive segment, import duties on certain parts, specifically electrical, electronics, etc., should be lowered. In India, the manufacture of such parts had a roadblock due to chip/sensor issues. Discontinuation of specific vehicles (Over 10-year-old vehicles in Delhi) should be in a phased manner or should be allowed to run with additional fitness requirements, increasing revenue options for after-sales ecosystem players. Regular industry connects activities between OEMs and after-sales players, relaxing certain norms for Govt Auto claim process also helps after-sales players get a fair playing ground in comparison to OEMs.”