Karnataka Offers Tax Waivers for Hybrids

30 Sep 2024 CW Team

Karnataka is planning significant tax waivers and financial incentives to promote the adoption of hybrid and electric vehicles (EVs). The state government is expected to eliminate road taxes and registration charges for hybrid cars costing under $30,000, which currently range from 13% to 18%. This move is aimed at encouraging clean mobility, including EVs, some hybrid models, and hydrogen-based vehicles. Additionally, the state is offering incentives for companies investing in fixed assets such as land and machinery for EV production, with subsidies ranging from 15% to 25%, depending on the scale of investment.

The policy will also benefit battery manufacturers and EV component makers, supporting Karnataka's ambition to raise $6 billion in investments through its clean mobility initiatives. However, industry players like Toyota support hybrid vehicle incentives, while companies like Mahindra and Tata Motors advocate focusing solely on EVs to align with India鈥檚 broader goals of EV adoption.

The policy does not yet have a final deadline for implementation, and details are still being refined?

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