2 of the Best SUVs Will Soon Be Cheaper!

The union budget 2025 was recently presented by Nirmala Sitharaman, India's finance minister. The budget that has been presented also places a strong emphasis on the automobile industry, which will lower the cost of your favourite vehicles in the nation. So, without further ado, let's talk about how your favourite car will become more affordable under the new budget. 

Budget 2025: Auto Industry Updates! 

Right now, the Indian auto industry is pushing all automakers to electrify their vehicles and launch new EVs in the country. Nevertheless, it is anticipated that the recently unveiled budget will increase the number of EV models in the nation. With the government's announcement to completely exempt the basic customs duty on materials needed to produce lithium-ion batteries, electric vehicles should become more affordable.  

The batteries, which are currently imported from China and Taiwan, account for up to 40% of the cost of manufacturing an electric vehicle. The new budget now calls for the removal of the basic customs duty (BSD) on 35 different capital goods types used in the production of lithium-ion batteries. This will contribute to a reduction in the cost of establishing an EV battery manufacturing facility in India, which will lower the cost of producing zero-emission vehicles. These materials were previously subject to a basic customs duty ranging from 2.5 to 10 percent.

All of these could result in more affordable prices for the most well-liked EVs, such as the new Hyundai Creta and the Tata Nexon.  

source: https://motoroctane.com/news/283236-2-best-selling-suvs-to-get-cheaper-very-soon