4 Indian automakers oppose Uttar Pradesh's incentives for hybrid cars, fearing it hinders EV market share goals.

Indian automakers Hyundai, Kia Motors, Tata, and Mahindra have written separate letters to Uttar Pradesh's government, asking it not to offer incentives for hybrid cars, claiming it would hinder the nation's efforts to achieve a 30% electric vehicle market share by 2030, and negatively impact investment plans. Uttar Pradesh waived registration taxes on some hybrid cars last month, making them 10% cheaper, a decision met with opposition from the four automakers, which have yet to publicly comment on the matter.

August 02, 2024
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