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HomeCURRENT AFFAIRSGovernment support needed to shift to Electric Vehicles, Tata Motors

Government support needed to shift to Electric Vehicles, Tata Motors

To fulfil its zero-emission targets, India must be clear about which clean-car technologies it would support, according to a senior official of Tata Motors, the most valued manufacturer in the nation.

Tata Motors: According to an article by Reuters, A senior official of Tata Motors, the nation’s most valuable automaker, stated on Friday that India must specify which clean-car technologies it will support in order to reach its zero-emission targets. CFO P.B. Balaji, Tata Motors, said, “The government, as part of its commitment towards zero-emission economy, needs to be very clear in terms of where they are going to put their money,”

Tata Motors says government support needed to shift to Electric Vehicles

The remarks were made in answer to a question asking Tata Motors what its stance would be if import duties on hybrid vehicles were lowered by the government. In India, the tax on electric vehicles is only 5%, while the tax on hybrid vehicles is 43%, which is somewhat less than the 48% tax on cars powered by petrol.

Tata Motors has advised government officials to remain firm on their position, despite the fact that India’s trade department has supported efforts from some Japanese automakers to lower taxes on hybrid vehicles. When automakers finally transition from petrol-powered cars to electric vehicles (EVs), the government has “correctly” selected what Balaji refers to as a “destination” technology, which will require major investment.

Government support needed

He emphasised that government support is necessary for the investment to be viable. “We firmly believe, we have been explicit about it for valid reasons, that is where support is needed,” he said. He claimed that subsidies for “transient” technologies, including hybrids, were inappropriate. Less than 2% of all automobiles sold in India are electric vehicles, but the government wants this to increase to 30% by 2030. Mahindra & Mahindra and Maruti Suzuki are among the automakers who plan to introduce EVs in 2025.

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