EEU cuts import duties on electric vehicles

The EEU comes back to lower duties on imports of electric vehicles (EVs) for a year
EEU cuts import duties on electric vehicles
05 September 12:11 2016 Print This Article

The Eurasian Economic union (EEU) has cut customs duties on imports of electric vehicles (EVs) for a year, from September 2 to August 31, 2017, reports the Eurasian Economic Commission on its website.

The current duty on light electric passenger vehicles was dropped from 17% to zero; while duties on electric powered trucks were decreased from 15% to 5%. The measures are not applied to hybrid vehicles.

Previously, customs duties on EVs were removed between February 1, 2014 and December 31, 2015. At that period the member states imported some 684 EVs. However, as soon as the duty exemption was ended at the beginning of 2016, it caused a collapse in EV sales with only 28 EVs sold during the first half of 2016. That proves that the EV market in the EEU is still highly elastic to the price.

The EEU trade minister Veronika Nikitishna believes that “the widespread use of electric passenger cars and trucks should stimulate the development of charging infrastructure facilities” in the EEU. According to her, when the fee reduction ends in 2017, the Eurasian Commission (EEC) should assess the situation again.

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