23 October 2023, 5:53 pm 1 minute
Reuters exclusively reported that Japan’s Toyota Motor (7203.T) 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.
India taxes EVs at just 5%, while the levy on hybrids is as high as 43%, just below the 48% imposed on petrol cars.
Topics of Interest: AutomotiveTechnology
Type: Reuters Best
Sectors: Commodities & EnergyTechnology
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story