Hyundai slashes Kona electric price by Rs 1.58 lakh to Rs 23.71 lakh

Hyundai Motor India on Friday said it has reduced price of Kona EV by around Rs 1.58 lakh in order to pass the benefit of reduced GST on such models to customers. The model is now priced at Rs 23.71 lakh as compared with Rs 25.3 lakh earlier.

The reduced Kona Electric price is effective from August 1, 2019, Hyundai Motor India said in a statement. The company said it has already received 152 bookings for the model which will be sold from 15 dealerships in 11 cities.

On Thursday, Tata Motors had announced price cut on Tigor EV by up to Rs 80,000. Last week, the high-powered GST Council decided to reduce the tax rate on electric vehicles (EVs) to 5 per cent from the existing 12 per cent effective from August 1.

It also slashed the Goods and Services Tax (GST) on EV chargers from 18 per cent to 5 per cent.