Budget 2023 marks the 'transition of auto industry to clean mobility': EV sector3 min read . Updated: 01 Feb 2023, 02:33 PM IST
- “To further provide impetus to green mobility, customs duty exemption is being extended to import of capital goods and machinery required for manufacture of lithium-ion cells for batteries used in electric vehicles,” Finance Minister Nirmala Sitharaman said in her speech.
The Union Budget 2023 has removed custom duty on capital goods/machinery for manufacture of lithium-ion cells for use in batteries of electrically operated vehicles (EVs). The move is said to help in reducing the cost of EVs in the country.
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