Thursday, December 9, 2021

Electric Car Tax Reduction Celebrated in India

27 de julio de 2019, 10:45New Delhi, Jul 27 (Prensa Latina) The Indian automobile industry hailed on Saturday the government”s decision to reduce taxes on electric vehicles and their batteries because it believes it will promote the use of this more environmentally friendly technology.

We welcome the historic decision to lower the Goods and Services Tax on electric vehicles from 12 percent to five percent and on their chargers from 18 percent to five percent, said S.S. Kim, executive director of Hyundai Motor India Ltd.

The fiscal benefit will help create an ecosystem that encourages a massive and faster adoption of these cars in our society, the entrepreneur said in a statement.

Pawan Goenka, Managing Director of Mahindra & Mahindra Managing Company, made a similar statement.

The Electric Vehicle Manufacturers Society also praised the new strategy, noting that it is in line with the steps taken by the Narendra Modi government to tackle environmental pollution.

This measure will make electric cars an attractive alternative for consumers and will generate clean energy, said Ayush Lothia, director of the firm Lohia.

According to the World Bank, the costs of air pollution in this nation, one of the most affected by this scourge in the world, are equivalent to 8.5 percent of its Gross Domestic Product.

Added to this situation is the growing shortage of potable water, especially in the country’s big cities, populated by nearly 1.3 billion people.



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