Toyota lobbies India to cut hybrid-car taxes as much as 21% – letter



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.

Market Impact

India taxes EVs at just 5%, while the levy on hybrids is as high as 43%, just below the 48% imposed on petrol cars. 

Article Tags

Topics of Interest: AutomotiveTechnology

Type: Reuters Best

Sectors: Commodities & EnergyTechnology

Regions: Asia

Countries: India

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

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