Nexzu Mobility, a leading solutions provider in the e-mobility space, expects the upcoming Union Budget 2021 to come up with new initiatives for EV segment like incentivised for R&D, promote localisation and stimulate ease of doing business.
The company’s statement assumes significance as the country is going though dramatic changes in mobility space led by electric vehicle and supported by various initiatives. There is also a boom in the market as global EV player Tesla already made its decision to invest in India.
Expressing the company’s views on the EV sector, Nexzu Mobility Chief Marketing Officer Pankaj Tiwari said as the company is nearing the time to witness the Finance Budget which should help in job creation.
“Also, it should help in stimulate ease of doing business, speed up domestic manufacturing capabilities (Atmanirbhar Bharat) by incentivising research and development initiatives. relaxing the prevailing tax regime and provisions that promote the cause of increasing elements of localisation, especially for the electric-vehicle segment,” said Pankaj Tiwari.
He also pointed out that India as a resilient economy, has been quick to bounce back from difficult situations – the period of sub-prime financial crisis, the global recession and now the Covid-19 that brought with it prolonged lockdown, affecting the economy.
“People belonging to all walks of life and Business Leaders from across sectors including retail, manufacturing, FMCG, travel, aviation, automobile, among others are eagerly awaiting the Union Financial Budget,” said Pankaj Tiwari.
He also pointed out that for the different sections of the people, see avenues of growing consumerism by increasing liquidity and cash in hand, where-in further relaxation in income tax slabs will help to promote buying trends.
“A lot will depend on budgetary allocations that the Finance Minister has for rural India, as tier-2 and tier-3 regions are that need support, and also serve as key consumer markets that have potential to drive economic growth. For the Automobile and other manufacturing sectors – the Finance Minister could consider provisions that promote the cause of increasing elements of localisation, especially for the electric-vehicle segment, ancillaries and component manufacturers to stimulate investments.“
Founded in 2015 with the intention of bringing stylish and futuristic eco-friendly vehicles to consumers at an affordable price, Nexzu Mobility has evolved into a holistic electric mobility company that operates in both B2B and B2C segments.
Laying special emphasis on after-sales service, Nexzu Mobility aims to provide its customers with the best facilities and professionals for their EV needs. Its range of products includes state-of-the-art, affordable and delightful e-scooters (Dextro and Dextro+) and e-cycles (Roadlark, Aello and Rompus).
With a manufacturing plant at the automotive hub of Chakan, the company has over 70 touch points across India and aims to revolutionize electric mobility space in the country.