Japan's Toyota Motor (7203.T) is lobbying the Indian government to cut taxes on hybrid vehicles by as much as one-fifth, arguing they are far less polluting than petrol cars but do not get commensurate policy treatment, a company letter shows.
The Toyota logo is seen on the bonnet of a newly launched Camry Hybrid electric vehicle at a hotel in New Delhi, India, January 18, 2019. REUTERS/Anushree Fadnavis/File photois lobbying the Indian government to cut taxes on hybrid vehicles by as much as one-fifth, arguing they are far less polluting than petrol cars but do not get commensurate policy treatment, a company letter shows.
Toyota argues this 5-percentage-point differential favouring hybrids over petrol cars is "insufficient", given the reduced emissions and better fuel consumption hybrids offer, according to its letter to Modi's Niti Aayog think-tank, which plays a key role in policymaking. That amounts to a tax rate of 37% on hybrids and 34% on flex-hybrids, cuts of as much as 14% and 21%, respectively, according to Reuters calculations.
Toyota, which popularised hybrid technology with the Prius, has faced criticism from investors and climate groups for still supporting hybrids, which it says make better sense for markets where the infrastructure is not ready for EVs.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Toyota lobbies India to cut hybrid-car taxes as much as 21%Toyota lobbies India to cut hybrid-car taxes as much as 21% - letter
Read more »
Toyota Electric Car News From Japan Mobility ShowToyota had an array of new concepts at the Japan Mobility Show this week but one of them could be a blockbuster if it gets built.
Read more »
Turnovers, special teams provide impetus for 24-21 Leeds win over MoodyAvery Langford kicked the game-winning 29-yard field goal with 4:31 left and Leeds held on for the victory.
Read more »
West Jordan edges out Northridge 21-12 in 5A first round matchupIn a game where Northridge seemed to be mounting a comeback, West Jordan dug deep and secured a 21-12 victory to earn a spot in the second round of the 5A playoffs.
Read more »
Today in History: October 21, Dan White found dead at SF homeIn 1985, former San Francisco Supervisor Dan White — who’d served five years in prison for killing Mayor George Moscone and Supervisor Harvey Milk, a gay-rights advocate — was found dead in a garage, a suicide
Read more »
Lakers News: Pro Bowler Claims To Have Beaten LeBron James In Game Of 21You have to wonder how this really went down.
Read more »