EV incentives in India

Global EV sales are on the rise, with Malaysia experiencing a significant increase in the first half of 2024, led by BYD and Tesla models. India anticipates more EV incentives, including the FAME-III scheme, in the upcoming budget. In Europe, governments aim for all new sedans and SUVs to be electric by 2035, but challenges remain in achieving mass-market affordability. Concerns persist over the true emissions impact of EVs based on the energy mix of grids. Tariffs on Chinese EVs may drive localization efforts in the EU, with differing views among member states on the permanence of such duties.