Introduction:
Electric Vehicle, Hybrids, Plug-in Hybrids, CNG, etc are the future of mobility. The world is working for clean, green, and sustainable energy sources. India is not far behind and in this, our automobile sector is trying to contribute through minimizing the use of fossil fuel in their upcoming vehicles. Many manufacturers like Tata Motors, Maruti, and Mahindra are already working and have even introduced their various models of alternate fuel vehicles on Indian roads.
Maruti Suzuki revealed intentions to introduce its first electric vehicle this financial year and promote diverse eco-friendly technologies like hybrid, biogas, and CNG to reduce emissions. Chairman RC Bhargava highlighted a diversified strategy to meet national objectives.
To produce and promote affordable small cars, the company aims to satisfy different market segments.
The country’s largest car maker Maruti Suzuki said it would launch its first electric vehicle in the local market in the ongoing financial year, and will simultaneously encourage customers to adopt eco-friendly technologies like a strong hybrid, biogas, flex fuel, and CNG which are available at varied price points to reduce emission and fuel consumption in the country.
Maruti Suzuki chairman RC Bhargava said in the annual report release, that a policy framework to accelerate the move towards these alternate technologies will help minimize sales of petrol and diesel vehicles and thereby reduce emission and fuel consumption.
Tax on Electric Vehicle In India:
In India, a reduced GST rate of 5% on Electric Vehicles is applied, compared to 28% (plus Cess) on hybrids. Several state governments extend additional incentives including waiver of registration charges on EVs.
The government has also accepted that in India there is a need to use different technologies, he said, adding” Some states like UP, have already taken steps in this direction. We now await a policy framework that would lead to the promotion of all technologies that result in petrol and diesel cars being replaced by cars using other technologies.”
Maruti’s Plan for Electric Vehicles:
Maruti Suzuki currently sells two strong hybrid vehicles- SUV Grand Vitara and MPV Invicto. The company has scheduled to launch its first EV later this fiscal and plans to have half a dozen models in the space by FY31.
