Russian authorities lift duty on electric vehicles

The Russian authorities have confirmed plans to reintroduce an exemption on import duty for electric powered vehicles. The original exemption ran out early this year but it will be reintroduced in September 2016 with a provisional expiry date in August 2017. It will be interesting to see how the authorities react after the expiry date because the lifting of duty on electric vehicles immediately reduces prices by 15%.

It is highly likely that the Russian authorities will take a hands-on approach to the electric vehicle market much the same as the Chinese authorities are currently doing. Does this bode well for the future?