The chairman of Maruti Suzuki said that this move of the Uttar Pradesh government will inspire other states to consider such proposals. He said, “For the first time a state government has taken action after realizing the fact that many technologies are necessary to reduce carbon emissions and oil imports.
RC Bhargava, chairman of leading vehicle manufacturer Maruti Suzuki India (MSI), said that the decision of the Uttar Pradesh government to completely waive the registration fee of hybrid vehicles is an acceptance of the fact that various technologies are needed to reduce carbon emissions and oil imports. According to media reports, the Uttar Pradesh government has announced a 100 percent exemption in registration fees on hybrid vehicles.
Hybrid cars will become cheaper by up to 3.5 lakhs
Due to this decision, the prices of hybrid models are expected to come down by up to Rs 3.5 lakh. When contacted in this regard, Maruti Suzuki Chairman told PTI-Bhasha that this move of the Uttar Pradesh government will inspire other states to consider such proposals. He said, “For the first time, a state government has taken steps after realizing the fact that many technologies are necessary to reduce carbon emissions and oil imports.”
Maruti’s stock rises Bhargava said that electric cars are not the only option to deal with this problem, other effective technologies like hybrid cars are also available. After the news of this decision of the Uttar Pradesh government, Maruti Suzuki’s shares saw a lot of rise. The company’s stock jumped 6.6 percent to close at Rs 12,820.20 on BSE. What is a hybrid vehicle?
A hybrid vehicle also has one or more electric motors installed along with a petrol engine. In this way, hybrid vehicles are also capable of giving more ‘mileage’ along with reducing carbon emissions. Maruti Suzuki sells some versions of Invicto and Grand Vitara models with strong hybrid system. At present, a total tax of 43 percent is levied on hybrid vehicles in the country, which also includes Goods and Services Tax (GST). On the other hand, a tax of about five percent is levied on electric vehicles.
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