German luxury automaker BMW stated on Wednesday that incentives are required to help the electric vehicle market expand.
The market in this country is still developing, and the business, which on Wednesday unveiled the all-electric MINI Countryman and the electric scooter CE04, stated that measures should be made to facilitate and quicken this shift.
Jean-Philippe Parain, Senior Vice President, BMW Group, Region Asia Pacific, Eastern Europe, Middle East, and Africa, said at a press conference held here that the “strongest incentives from the state should be for EVs.”
According to him, incentives make it possible to lower the cost of an electric model to the point where switching to an electric car is possible.
According to Parain, plug-in hybrid electric vehicles (PHEVs) can serve as a bridge in certain nations where consumers travel greater distances.
“But if I were to speak for India, I would focus on the full transition to full electric vehicles” , he stated.
In India, the combined tax rate for hybrid cars and battery electric vehicles is 43%, including GST. The tax rate for battery electric vehicles is approximately 5%.
According to Parain, there is room for EVs in India, and the company wants to push more goods into the nation.
He mentioned that the carmaker is considering investing in hydrogen vehicles, plug-in hybrids, and internal combustion engine versions in addition to battery electric vehicles.
According to Parain, the company intends to maintain its technological flexibility.
Along with Tesla and BYD, he claimed that BMW is one of the top EV sellers worldwide.
He mentioned that the company’s sales in China were affected. “India is an exception and there is a need to sustain this growth going forward,” Parain said.
EVs are appropriate for India, according to Vikram Pawah, President and CEO of BMW Group India.
The introduction of electric vehicles in India is a positive development, and he predicted that the market will expand quickly once products are offered at all price points.
In order to support the segment’s expansion, Pahwa also mentioned that the carmaker is investing in the establishment of charging infrastructure in addition to releasing new models.
BMW debuted the all-new 5 Series Long Wheelbase in the nation on Wednesday, with a starting price of Rs 72.9 lakh. Additionally, the business unveiled the new MINI Countryman, which costs Rs 54.9 lakh, and the new Mini Cooper S, which is priced at Rs 44.9 lakh.
At Rs 14.9 lakh, BMW Motorrad unveiled the CE-04, a luxury electric scooter.
