Mahindra Pushes for EV Focus

21 Aug 2024 CW Team

Mahindra & Mahindra (M&M) has reaffirmed its strong support for electric mobility, calling it the right step for India's future. Speaking to reporters, Rajesh Jejurikar, Executive Director and CEO of M&M's auto and farm sectors, emphasized that prioritizing electric vehicles (EVs) aligns with national interests and should be the focus of government support.

Jejurikar's comments came in response to a query about the Uttar Pradesh government's decision to offer full road tax waivers on hybrid car purchases. While some automakers have expressed concerns that other states might follow suit, potentially undermining the push for EVs, M&M remains committed to the electric vehicle roadmap.

"We believe that the EV roadmap can be very strong with the right product, and that's in the best interest of the nation," Jejurikar said.

Currently, hybrid vehicles, which combine internal combustion engines with electric motors, face a total tax incidence of 43%, including GST, compared to just 5% for battery electric vehicles. Automakers producing hybrids have long sought tax parity with fully electric vehicles.

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