 "Electric mobility right step in right direction: Mahindra & Mahindra | Company News")
The Mumbai-based auto major noted that supporting electric mobility is in the best interest of the nation.
Mahindra & Mahindra on Thursday came out strongly in support of electric mobility terming it a right step in the right direction for the country.
The Mumbai-based auto major noted that supporting electric mobility is in the best interest of the nation.
“The right direction for the country is EV focus and we believe that is what the government should support,” Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm director Rajesh Jejurikar told reporters here.
He was responding to a query regarding the company’s stand on the Uttar Pradesh government announcing registration waivers for hybrid vehicles.
The Uttar Pradesh government has come out with a full road tax waiver on the purchase of a hybrid car in the state.
The move has been opposed by various automakers investing in electric mobility fearing other states could also follow the suit.
“We are at a stage where we believe that the EV roadmap can be very strong with the right product and that’s in the best interest of the nation and that is the stated national priority and we are very focussed on it,” Jejurikar said.
Hybrid vehicles are powered by an internal combustion engine and one or more electric motors, which use energy stored in batteries.
For long, the companies manufacturing hybrid vehicles have been seeking parity in terms of taxation with electric vehicles.
Currently, the total tax incidence on hybrid vehicles in the country is 43 per cent, which is inclusive of GST, while battery electric vehicles attract a tax of about 5 per cent.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 15 2024 | 6:31 PM IST
