Hyderabad, Jul 27 : Hyundai Motor India Limited CEO and Managing Director S S Kim on Saturday welcomed the GST Council’s historic decision to reduce the Goods and Service Tax (GST) on Electric Vehicles from 12 per cent to 5 per cent and on EV chargers from 18 per cent to 5 per cent.
In a statement here, Kim said the tax benefit will help create an ecosystem that will encourage faster mass adoption of EVs in our society.
With the launch of India’s first Fully ELectric SUV - KONA Electric, Hyundai has already strengthened its commitment to bring ‘Clean Mobility’ Solutions to the Indian customers , he said.
"We are thankful to the government for fulfilling their promise as this strategic decision by GST council will further strengthen confidence of prospective buyers for electric mobility in future," he added.(UNI)