Yamaha Motors has made an announcement that it has entered the country’s capital – New Delhi with two-wheeler Asset Management Services through its Indian company – Moto Business Service India (MBSI). Being a mobility solution company functioning in asset management and service, it provides services for tech startup companies focusing on shared mobility space.

The first investment comes in the form of Zypp Electric with the launch of 250 Hero Electric two wheelers in New Delhi. Zypp Electric is an established rival in the last-mile delivery segment providing services to leading E-commerce segments across logistics, groceries, food, and pharma sectors.

MBSI envisions to amplify the usage of vehicles on shared/rental platforms, thus creating more employment opportunities. “We are extremely excited to officially launch MBSI in New Delhi, by kick-starting our operations with Zypp Electric. The Indian electric vehicle mobility market is growing in line with the overall global trend and will see rapid traction and growth for shared two-wheelers and four-wheelers in the EV segment,” said Shoji Shiraishi, Managing Director, MBSI.

The company says that it aims to urge a majority of companies and delivery executives across the country to go electric. “We will onboard EV vehicles across multiple cities and generate employment avenues for the youth of India. We need to create an evolving ecosystem that can address all challenges and enable millions of businesses to adopt sustainable modes of transport. We plan to work with more environment friendly mobility companies in the future and to transform the overall shared mobility space in India by bringing our financial and strategic experience from our stakeholders,” added Shiraishi.

Electric vehicles in India, which have recorded an unprecedented growth over the last couple of years, are expected to become more affordable. As per the reports, the Goods and Services Tax (GST) Council may bring down tax rate on the lithium-ion battery, which is one of the most expensive components inside an electric vehicle. The Council may reduce GST on the EV batteries at par with electric vehicles which could mean a major drop in overall price of electric cars and two-wheelers in India.

According to a report published by Mint, talks have started among stakeholders at the Centre to go ahead with the plan. A meeting was held on Tuesday to discuss battery-swapping policy between members from NITI Aayog, ministries of new and renewable energy, heavy industries, and other government departments. Suggestions were moved rationalise tax and standardise EV batteries. NITI Aayog is preparing a draft policy which will be sent to the GST Council for further consideration.

Reportedly, talks have initiated among stakeholders at the Centre to go ahead with the plan. A meeting was conducted on Tuesday to discuss battery-swapping policy between members from NITI Aayog, ministries of new and renewable energy, heavy industries, and other government departments. Suggestions were made to rationalise tax and standardise EV batteries. NITI Aayog is preparing a draft policy which will be sent to the GST Council for further consideration.

The draft policy sent by NITI Aayog reads, “As per the current GST regime, tax rates on lithium-ion batteries and electric vehicle supply equipment (EVSE) are 18% and 5%, respectively. The GST Council, the decision-making body on GST provisions, may consider reducing the differential across the two tax rates. The council will take an appropriate decision in this regard at a suitable time.”