Shekhar Vishwanathan is the vice chairman and the whole-time director of Toyota Kirloskar Motor (TKM), a joint venture between the Japanese auto major and Kirloskar Group.
Vishwanathan said, "Moving to electric vehicles is a good move. After all you must diversify the transport sector, but to say that it should be 100% electric, I think, is stretching the limits of credibility. I think it's impractical; it is not possible... I think it will be more like 30% by 2030 and may be higher percentage by 2040," cited the report.
The government must be ‘technology-agnostic’ to promote the e-vehicle spree in India, he added. Acknowledging the government’s move to levy a lower rate of 12% GST on the electric vehicles against the 43% GST on hybrid vehicles, he said that the government has given a huge incentive to electric vehicles and a huge disincentive to the diesel and petrol vehicles already.
Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.
- Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
- Now Save Rs.3150 on your Demat Account ...Click here
- Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
- Get the most detailed result analysis on the web - Real Fast!
- Actionable & Award-Winning Research on 500 Listed Indian Companies.