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2025 Budget Pushes Green Mobility, Manufacturing
Aditya Kondejkar Aligned with the ‘Viksit Bharat’ vision, the 2025 budget proposes a forward-looking approach for the auto sector, fostering a sustainable ecosystem with financial allocations and duty exemptions. Among the highlights:
- Support for EV Manufacturing. The exemption of customs duties on 35 capital goods for lithium-ion battery production is a commendable step toward reducing production costs and improving EV affordability.
- Production-Linked Incentive (PLI) Scheme. The government allocated $325.31 million USD (Rs 2,819 crore), down from $403.90 million USD (Rs 3,500 crore) last year, which may raise concerns about the continuity of financial backing for emerging EV and hydrogen fuel cell technology.
- Tariff Rationalization. Reduction of tariff categories to just eight simplifies the customs structure and promotes ease of business for auto manufacturers.
- MSME Credit Boost. With increased access to credit for MSMEs in the auto component industry, supply chain development will strengthen, driving innovation and expansion. MSME stands for Micro, Small, and Medium Enterprises. This term refers to a significant sector of the Indian economy that plays a crucial role in the country’s economic development and growth.
- Dhan-Dhaanya Krishi Yojana. Rural income growth via this scheme, along with increased Kisan Credit Card limits, is expected to boost demand for two-wheelers, tractors, and small commercial vehicles.
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BYD Controversy In Brazil — What Is Going On?
Guy Youngs Reports came out in late December that workers building a BYD factory in Brazil were working in “slavery” conditions and were potentially victims of human trafficking. Without a doubt, something horrible was going on. How much BYD knew or didn’t know, we don’t know, but the company has now terminated its subcontractor, Jinjiang Construction Brazil.
“Brazilian authorities have halted the construction of a factory for Chinese electric vehicle (EV) giant BYD, saying workers lived in conditions comparable to ‘slavery’,” BBC reported. “More than 160 workers have been rescued in Brazil’s northeastern state of Bahia, according to a statement from the Public Labor Prosecutor’s Office (MPT).
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Alternative Power Report, December 2024
The December 2024 issue of the Alternative Power Report published by Power Systems Research includes articles the successful trends in Chinese EV production, Mercedes’ solar paint product for EVs, new research on sodium-ion batteries and the development of rotary engines powered by hydrogen. PSR
Guy Youngs is Forecast and Technology Adoption Lead at Power Systems Research
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