Mahindra & Mahindra Endorses Electric Mobility for India's Future

Mahindra & Mahindra advocates for electric mobility, emphasizing its importance for India's progress. The company criticizes the Uttar Pradesh government's tax waiver on hybrid vehicles and underscores the need for government support of electric vehicles, highlighting the disparity in tax rates between hybrid and electric vehicles.

Mahindra & Mahindra has publicly endorsed electric mobility, describing it as a strategic move for India's advancement.

The Mumbai-based auto major emphasized the national benefits of supporting electric vehicle (EV) adoption.

'The right direction for the country is EV focus and we believe that is what the government should support,' stated Rajesh Jejurikar, Mahindra & Mahindra's Executive Director and CEO for auto and farm.

Responding to the Uttar Pradesh government's decision to waive registration fees for hybrid vehicles, Jejurikar highlighted the potential ramifications.

The state's full road tax waiver for hybrid car purchases has sparked concern among automakers investing in electric mobility, fearing other states might adopt similar policies.

According to Jejurikar, Mahindra & Mahindra believes that a robust EV roadmap, backed by appropriate products, is crucial for the nation and aligns with national priorities.

Hybrid vehicles, equipped with an internal combustion engine and one or more electric motors, have long sought tax parity with electric vehicles.

Currently, hybrid vehicles face a total tax incidence of 43 percent, including GST, while battery electric vehicles are taxed at around 5 percent.

(With inputs from agencies.)