Union Budget 2025 Reaction From Motovolt Mobility

Union Budget 2025 Reaction
Mr Tushar Choudhary, Founder & CEO, Motovolt Mobility
“The recent budget has delivered a promising outlook for India’s electric vehicle (EV) industry, especially with the reduction in Basic Customs Duty (BCD) on capital goods related to EV manufacturing. This move will help lower production costs, making EVs more affordable for consumers and encouraging higher sales.
Aligned with the National Manufacturing Mission, the budget’s focus on rationalizing customs tariffs signals the government’s intent to localize high-value production and reduce dependency on imports. Additionally, the exemption on critical minerals like lithium is a significant step toward easing the supply of vital components for EV batteries, further lowering costs and boosting domestic manufacturing.
The commitment to enhancing EV infrastructure, particularly in charging stations and battery swapping networks, is another much-needed development. This will improve the user experience and drive the adoption of EVs across the country.
Efforts to localize EV components like batteries, motors and controllers will help reduce upfront costs which would further strengthen India’s EV Ecosystem giving the EV sector the ability to penetrate the Indian Markets.”