The Union Budget 2025 brings good news for electric vehicle enthusiasts! Finance Minister Nirmala Sitharaman announced the full exemption of Basic Customs Duty (BCD) on key materials like cobalt, lithium-ion battery scrap, and other critical minerals used in EV battery manufacturing. This move is expected to significantly reduce the production costs of electric vehicles, making them more affordable for the Indian consumer.
This video analyzes the impact of this crucial decision on the Indian EV market. We discuss how this move will accelerate the adoption of electric vehicles, boost domestic manufacturing, and contribute to a cleaner and greener future.
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