Hyundai hybrid car plans shelved following the Government’s decision to tax hybrids under GST.
Manufacturers like Maruti Suzuki and Toyota continue to offer their hybrid powered cars in-spite of the hike in taxes under GST (Goods and Services Tax) while other manufacturers like Hyundai and Mahindra are putting a hold on their hybrid powered cars.
Hyundai had decided to launch the Ioniq hybrid at the 2018 Auto Expo and also to equip the soon-to-be-launched Verna with a mild-hybrid system but now has decided against it due to the cutback in benefits given to hybrid vehicles post GST.
The Government of India had announced the FAME India [Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India] scheme in April 2015 with an objective to support hybrid/electric vehicles where the manufacturers were given subsidies/incentives.
With benefits towards mild-hybrid and strong-hybrid continuously decreasing, Hyundai has cancelled the launches of its hybrid powered cars. The Creta facelift which is due in 2018 and which is also likely to get a mild-hybrid option for both petrol and diesel engines could also miss out on hybrid technology.
The Mahindra Scorpio which is expected to receive a facelift soon too could lose out on mild-hybrid technology, meanwhile Toyota continues to offer the Camry hybrid but with a price increase of approximately Rs. 8-10 lakhs. The Government of India has clearly shifted its focus towards electric vehicles and the drop in tax rates is clearly evident.
Hyundai Hybrid Car Plans
– Hyundai has cancelled the launch of the Ioniq at the 2018 Auto Expo
– Hyundai also had plans to launch a mild-hybrid version of the new Verna
– Government’s decision to tax hybrid vehicles at 43 percent and the cutback in benefits to hybrid vehicles has made Hyundai cancel its hybrid car plans