Toyota Kirloskar Motor (TKM) has advocated for a calibrated taxation policy that encourages “technology agnostic approach” and urged the government to treat all technologies at equal footing to bring down vehicular pollution and boost the volume growth in the auto sector. Technology agnostic approach implies that a company is unbiased towards using any specific technologies to solve its business problems. The automaker’s comment comes against the backdrop of Niti Aayog CEO Amitabh Kant asserting that there is no need for a policy for electric vehicles (EVs).The company, which is a joint venture between the Japanese auto major and Kirloskar group, said it remains committed to continuous efforts in developing alternate mobility technologies.
“We wish that taxation policy is calibrated towards encouraging a technology agnostic approach which would reduce pollution, reduce India oil import bills and encourage volume growth in the auto sector both of mass market cars and luxury vehicles,” TKM vice chairman and whole-time director Shekar Viswanathan said in a statement.This will in turn lead to growth in employment where automobile sector is a big contributor, he added. Under the GST regime, hybrid vehicles have been put in the same category as big petrol and diesel luxury cars, attracting 28 per cent rate with a cess of 15 per cent. However, the GST on electric vehicles is lower at 12 per cent.
On the government’s decision of not having a separate policy for electric vehicles in the country, Viswanathan said the company understands the current stance of government towards promotion of mobility in the country. “Toyota will further drive its customer-friendly and eco-friendly approach to encourage the ecosystem for all technologies,” he added. The company would continue to focus on the action points to align with the government objectives of reducing oil imports and minimising pollution, Viswanathan said.He added that Toyota has always been in the forefront working on ever better mobility solutions to address rising levels of emission and fuel consumption not only globally, but also in India.
“We will introduce appropriate products in consultation with all stakeholders. In line with Toyota Global Environmental Challenge 2050 to achieve zero CO2 emissions, we remain committed on our continuous efforts in developing alternate mobility technologies such as BEVs, HEVs, FCVs, etc, towards the conservation of our environment,” Viswanathan said. He further said the state level EV policies will have a key role to play as a concerted effort to achieve reduced emissions and fuel imports. “We also recognise that it is the customer who will drive the choice of technology that we will adopt based on his/her needs of travel distance, safety and total cost of ownership,” Viswanathan said.Last week, Niti Aayog CEO Amitabh Kant had said that there is no need for a policy for electric vehicles (EVs) as an action plan has been prepared. He, however, added that a final call on EV policy will be taken by the government.
Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.