Strongest incentives from the state should be for EVs: BMW


PTI, Jul 24, 2024, 7:34 PM IST

Image source: X

New Delhi: German luxury carmaker BMW on Wednesday said incentives are necessary to support the growth of the electric vehicle segment.

The company, which on Wednesday introduced the all-electric MINI Countryman and electric scooter CE04 in the country, said the market here is still evolving and efforts should continue to smoothen and accelerate this transition.

In a press conference here, BMW Group Senior Vice President, Region Asia Pacific, Eastern Europe, Middle East and Africa Jean-Philippe Parain stated that the “strongest incentives from the state should be for EVs”.

Incentives allow to bring an electric model to a price point where transition can happen towards an electric vehicle, he noted.

Parain noted that in some countries, where customers drive longer distances, plug-in hybrid vehicles (PHEVs) can be a bridge.

“But if I were to speak for India, I would focus on the full transition to full electric vehicles”, he added.

In India the total tax incidence on hybrid vehicles in the country is 43 per cent, which is inclusive of GST, while battery electric vehicles attract a tax of about 5 per cent.

Parain stated that there is potential for EVs in India and the company is looking to drive in more products into the country.

He noted that besides battery electric vehicles, the automaker is also investing in internal combustion engine models, plug-in hybrids and also thinking about hydrogen vehicles.

The company plans to remain flexible when it comes to technologies, Parain stated.

Globally, he said that BMW is among the top sellers of EVs along with Tesla and BYD.

He noted that the company’s sales were impacted in China. “India is an exception and there is a need to sustain this growth going forward,” Parain stated.

BMW Group India President and Chief Executive Officer Vikram Pawah stated that EVs were suitable for India.

Penetration of electric vehicles in India is encouraging and once products are available across all price points, the segment will grow very fast, he noted.

Pahwa also noted that the automaker, besides introducing new models, is also investing in establishing charging infrastructure to aid the growth of the segment.

BMW on Wednesday introduced the all-new 5 Series Long Wheelbase in the country with price starting at Rs 72.9 lakh. The company also introduced the new Mini Cooper S and the new all-electric MINI Countryman priced at Rs 44.9 lakh and Rs 54.9 lakh respectively.

BMW Motorrad introduced premium electric scooter CE 04 at Rs 14.9 lakh.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Salman Khan gets another threat; message sent to Mumbai traffic police helpline

SC overrules 1967 verdict holding AMU can’t be minority institution

BJP MP Tejasvi Surya, editors of Kannada news portals booked for allegedly spreading fake news

Egg distribution scheme for school children under scrutiny over alleged mismanagement

India Post M’luru division to offer doorstep service to pensioners for Jeevan Praman certificate

Cong asks PM Modi why Gujarat’s white onion farmers given preferential treatment

Kharge slams Fadnavis, says people of Maharashtra will give a befitting reply to BJP

Related Articles More

Hero MotoCorp looks to scale up EV biz, lines up new models

Royal Enfield forays into electric bike segment; unveils first model under Flying Flea brand

Maruti Suzuki looks to cash in on ‘few lakh marriages’ in Nov to carry festive sales momentum

Auto sales grow in mid-to-high single digits during Navratras, rural sales muted: Report

Car makers witness record sales on Dhanteras; Oct bookings up by 30%

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Salman Khan gets another threat; message sent to Mumbai traffic police helpline

SC overrules 1967 verdict holding AMU can’t be minority institution

DK Child Protection Unit to conduct campaign to raise awareness of child trafficking

Kambala: Tradition and modernity in coastal Karnataka

BJP MP Tejasvi Surya, editors of Kannada news portals booked for allegedly spreading fake news

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.