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Will consider plug-in hybrid if tax structure favourable: Volvo India MD
Volvo Car India, which launched the refreshed version of its best selling model in India XC60 at an introductory price of Rs 71.9 lakh, believes that the entry of new players like Tesla is good for popularising electric vehicles, its Managing Director Jyoti Malhotra told reporters here.
The refreshed XC60 is being assembled at the company's Bengaluru facility, he noted.
"We have a range of mild hybrids and plug-in hybrids... Those are the range that we have in this car (XC60) globally... Our global portfolio has it but the Indian tax structure is not really conducive as of today," Malhotra said when asked if the company would consider the plug-in hybrid version of the model.
He further noted,"If things change, we can always bring it. So we are keeping a close watch." Under the current regulations hybrid passenger vehicles of length of up to 4 metre and up to 1200 cc petrol engine and up to 1500 cc diesel engine attract 28 per cent GST.
On the other hand hybrid passenger vehicles of length above 4 metre or above 1200 cc petrol engine and above 1500 cc diesel engine are taxed at 28 GST with 15 per cent additional cess.
"The mild hybrid that we have on offer today with the current (tax) structures that we have in India, I think this is best suited because we can offer the best value to our customers," Malhotra said, adding "but if things change, you can always bring it".
When asked about increase in competition with the entry of the likes of Tesla in India, he said,"I would say we are not looking at anybody as competitor. They are all different car makers, they are are colleagues, they are all welcome to come. I think India needs more, the more the merrier." Asserting that Indian customers need choice, Malhotra said,"We are a huge country. One good thing I can say is that in the last 6-7 months we have seen a lot of interest in electric cars, we have seen a lot of interest in new generation cars and I think it is good... So the entry (of Tesla) is good for the customers.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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