In comparison, the top-selling models get a subsidy of 10% in China, 16% in Korea, 20% in Germany and 26% in both the US and Japan.India offers the highest subsidies on electric cars among major countries of the world, according to a recent research report by HSBC Securities.
The subsidies (direct + indirect) come to 46% of the price on average for the electric variant of the Tata Nexon, the top-selling electric car model in India.
This includes lower GST and road tax compared with the variants running on fossil fuels and the indirect benefi t from the production-linked incentive that the manufacturer gets.
In comparison, the top-selling models get a subsidy of 10% in China, 16% in Korea, 20% in Germany and 26% in both the US and Japan.
