The EV sales have reduced in the country in the past three months, while hybrid car sales have augmented.
After various rounds of discussions with the major automobile manufacturers, the chief secretary of the UP government Manoj Kumar Sungh has told the media that they had no intentions to revoke the entire waiver of registration fee on plug-in hybrid vehicles. The chief secretary clearly stated that waiver and incentives are given to these companies in an effort to boost electric vehicles and replace conventional gasoline cars. According to some people familiar with the matter, an ICE car customer will be replaced by a hybrid car customer.
Industry bodies and other stakeholders who attended the meeting notified that the amount of incentives given for hybrid vehicles could be different from electric vehicles. An OEM who was present at the meeting said, “A complete rollback of the registration tax waiver is unlikely, the quantum of waiver for hybrids and EVs may be different. This clarity will emerge later.” The confusion started when in July, the state government had announced to waive off 8-10 percent registration fees on plug-in hybrid vehicles.
The announcement also slumped the on-road prices of these vehicles of upto Rs 4 Lakh The top executives from Tata Motors, Hyundai, Kia, Mahindra & Mahindra, Maruti Suzuki, Toyota, Honda, and Bajaj attended the state government meeting. Mahindra, Hyundai, and Tata who are manufacturing sophisticated electric vehicles strongly condemned the decision passed on July 5. According to them, the electric vehicle industry is still in the nascent stage and therefore, requires complete focus and support from the government. In fact, examples of other countries were presented before the government to highlight how separate incentives and subsidies are provided exclusively for the EV domain.
Nonetheless. Bajaj, Maruti, Toyota, and Honda who are yet to unveil electric vehicles are happy with the previous order passed, arguing that incentives should be provided to all the segments of the green technologies and then only it can assist the state in reducing carbon emissions faster. The chief secretary told all the EV companies that it is preposterous to follow the tax policies of other countries because all the nation has its own growth stage and context. The g
The government is completely committed to boost the green technology segment, but at the same time, the EV companies must also look forward to set-up more charging stations in the country so that people can get rid of the range anxiety. The point to be noted is that amid various schemes and incentives, the EV sales have reduced in the country in the past three months, while hybrid car sales have augmented. The month July witnessed 7,541 electric cars sold in India, a 2.92 percent year-on-year (Y-o-Y) decrease. In June, sales dropped by 13.51 percent Y-o-Y to 6,894 units. May recorded a 1.24 per cent Y-o-Y decline with 7,638 units sold, claims Federation of Automobile Dealers Associations (FADA).
