New Delhi, February 2: Volkswagen is reportedly planning to introduce its new entry-level electric cars in India in the next five years starting from 2024. According to the reports, the German automaker revealed some of the details of its future EVs for the Indian market during the Bharat Mobility Expo 2024. By 2030, India will likely be the market where many electric vehicles are expected to be introduced. By taking advantage of this, Volkswagen Group may enter the market to cater for the future demand.
According to the report by Hindustan Times Auto, the German automobile company Skoda Auto will launch its new electric car models in India in 2024. So far, the Indian automobile company Tata has found its EVs at entry level compared to the luxury EVs from Mercedes-Benz and BMW. On April 26, British automobile company MG Motors (or Morris Garages) introduced its MG Comet EV in India at a initial price of Rs 7.98 lakh, which can go up to Rs 9.98 lakh depending on the location. Skoda Enyaq iV Unveiled at Bharat Mobility Global Expo 2024; Likely To Debut Soon in India: Check Expected Price, Specifications and Features.
The report said that Volkswagen offers many electric vehicles globally but not in the Indian market. Currently, the popular entry-level model of the German car company is Volkswagen ID.2, which provides a range of up to 450km and costs less than EUR 25,000. According to the report, the company recently teased its upcoming SUV; however, it still needs to confirm that the model is the same as the one launched globally.
Highlighting the Bharat Mobility Show 2024, the report said that Volkswagen "revealed its intention to enter the EV fray in India". The report mentioned that the company CEO, Piyush Arora, is also said to be actively looking at entry-level EVs for the Indian market. As per the report, it would need a significant "three-figure million" dollar investment in the new products, and the company will need volumes. The Skoda CEO, Piyush Arora, further stated it would not be as fast to penetrate the Indian market, so the team is looking for the possibility of exporting the product. Tata Curvv Showcased at Bharat Mobility Expo 2024; Likely To Debut Soon in India: Check Expected Price, Specifications and Features.
The entry of Volkswagen into the Indian EV market would reportedly depend on the tax structure and rely on locally manufactured cars as the import duties are higher. If the company gets government backing, it will launch hybrid vehicles in India, as the tax on hybrid cars is currently 43%, which is still high.
(The above story first appeared on LatestLY on Feb 02, 2024 05:10 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).