Will The Hyundai Kona, MG ZS EV Receive A Price Hike After April 2020?Posted on: February 1, 2020, by : Anindita Ghosh
- Concessional basic custom duties has been now increased on EV components.
- Both MG ZS EV and Hyundai Kona Electric are CKD models.
- MG Motor India feels the decision is harsh for EV segment.
Electric vehicles have just about started pouring into the country and there are a host of manufacturers who have launched their products in the country. Both MG Motor India and Hyundai Motor India have launched their respective electric SUVs in the country and yes both are assembled here in India. The government of India announced that the concessional basic custom duties has been now increased. The basic custom duty on completely built units has gone from 25 per cent to 40 per cent. BCD on semi-knocked down units has doubled from 15 per cent to 30 per cent and this includes passed vehicles and three wheelers as well. For completely knocked down kits, the hike is 5 per cent (from 10% to 15%)
Now both the MG ZS EV and the Hyundai Kona EV are brought to India in the CKD form with the final assembly taking place at the company’s respective plants. Prices for the MG ZS EV start at ₹ 20.88 lakh while the Kona Electric has been priced at ₹ 23.71 lakh. This hike should then certainly affect the prices of both the cars. But Hyundai has said that this notification is an extension of the one sent on April 2019 and so the price announced by the company at the time of launch already took into account this change. So, the prices of the Hyundai Kona are not likely to be affected by this change.