Customs duty exemption on lithium, cobalt to aid growth of EV sector: Auto Inc

Union Budget 2024-25 exempts customs duties on lithium and cobalt. Extends concessional customs duty on Li-Ion cells till March 2026, removes 2% e-transaction levy. SIAM, ACMA, Deloitte's Rajat Mahajan, Hero MotoCorp, Ashok Leyland, Mercedes-Benz India, and TVS Motor laud the budget for boosting EVs, infrastructure, and sustainability.