NEW DELHI, Oct 23 — Japan’s Toyota Motor is lobbying the Indian government to cut taxes on hybrid vehicles by as much as one-fifth, arguing they are far less polluting than...
Japan’s Toyota Motor is lobbying the Indian government to cut taxes on hybrid vehicles by as much as one-fifth. — Reuters picNEW DELHI, Oct 23 — Japan’s Toyota Motor is lobbying the Indian government to cut taxes on hybrid vehicles by as much as one-fifth, arguing they are far less polluting than petrol cars but do not get commensurate policy treatment, a company letter shows.
India taxes EVs at just 5 per cent, while the levy on hybrids is as high as 43 per cent, just below the 48 per cent imposed on petrol cars. That amounts to a tax rate of 37 per cent on hybrids and 34 per cent on flex-hybrids, cuts of as much as 14 per cent and 21 per cent, respectively, according to Reuters calculations.
Indian giants Tata Motors and Mahindra & Mahindra are backing EVs, while Toyota and Honda Motor want support for hybrids.
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