INSUBCONTINENT EXCLUSIVE:
Hybrid vehicles are powered by an internal combustion engine and one or more electric motors, which use energy stored in batteries
Photo: Shutterstock2 min read Last Updated : Jul 09 2024 | 11:32 PM IST
Maruti Suzuki India Chairman RC Bhargava on Tuesday said the
reported 100 per cent registration waiver for hybrid vehicles by the Uttar Pradesh government recognises the fact that multiple technologies
are required to reduce carbon emissions and oil imports.
According to reports, the Uttar Pradesh government has announced a 100 per cent
registration tax waiver on hybrid vehicles leading to a drop in prices of models by up to Rs 3.5 lakh.
When contacted, Bhargava told PTI
that the step taken by the UP government would also inspire other states to consider such proposals.
"The UP government action is the first
instance where a state government has realised and acted on the fact that multiple technologies are required for reduction in carbon
emissions and oil imports," he stated.
Electric cars are not the only option, there are other effective technologies like hybrid cars to
tackle the issue, Bhargava asserted.
On Tuesday, Maruti Suzuki shares jumped 6.6 per cent to settle at Rs 12,820.20 on the BSE
During the day, it soared 7.72 per cent to Rs 12,955.
At the NSE, it climbed 6.51 per cent to Rs 12,807
Maruti was the biggest gainer in the Sensex and Nifty pack.
Hybrid vehicles are powered by an internal combustion engine and one or more
electric motors, which use energy stored in batteries.
Toyota Kirloskar sells Innova Hycross and Urban Cruiser Hyryder with strong hybrid
technology while Maruti Suzuki also sells some trims of the Invicto and Grand Vitara with strong hybrid mechanisms.
Honda also sells some
variants of its mid-sized sedan City with self-charging hybrid technology.
Currently, the total tax incidence on hybrid vehicles in the
country is 43 per cent, which is inclusive of GST, while battery electric vehicles attract a tax of about 5 per cent.(Only the headline and
picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated
feed.)First Published: Jul 09 2024 | 11:32 PMIST
