article thumbnail

Tata Motors urges govt to keep hybrid tax, Toyota lobbies for cut

Baua Electric

Read more Tata Motors has opposed Toyota’s appeal for tax reduction on hybrid cars, claiming that they are more polluting than electric vehicles and should not be given a tax advantage. Several automakers like Toyota, who have been selling hybrid cars in India have been lobbying for a tax cut on the hybrid vehicles in India.

Tax 95
article thumbnail

New bipartisan bill in US Congress to expand EV and hydrogen fuel cell tax credits

Green Car Congress

US Senators Debbie Stabenow (D-MI), Lamar Alexander (R-TN), Gary Peters (D-MI), and Susan Collins (R-ME) along with Congressman Dan Kildee (MI-05) introduced the Driving America Forward Act, bipartisan legislation to expand the electric vehicle and hydrogen fuel cell tax credits. ITC Holdings Corp., ITC Holdings Corp.,

article thumbnail

EVs reach 90% market share in Norway as the overall auto market falters – Charged EVs

Baua Electric

Battery EVs took a 90% share, as recent tax changes make PHEVs less appealing. of the entire auto market. The steady rise of EVs is occurring against a backdrop of slower overall auto sales. Legacy vehicles are subject to heavy taxes, but there are few affordable electric models. of the market, up from 90.1% year-on-year.

Norway 52
article thumbnail

ASK Auto Q3 FY24 PAT up 71% – ET Auto

Baua Electric

Higher EBITDA is mainly driven by better economies of scale due to increased volume and better customer mix. This includes one-time deferred tax gain of INR 715 lakh accounted for in Q3 FY24. It delivered Absolute EBITDA at INR. 8,158 lakh with 38.8% growth in Q3 and INR 22,535 lakh with 14.2%

Auto 52
article thumbnail

ASML’s threat to leave uncovers deeper concerns in Netherlands Inc – ET Auto

Baua Electric

After corporate tax increases and protests and court cases against Shell and others in recent years, populist parties booked big gains in 2023’s national elections. That has prompted companies to speak out against policies that would discourage immigration and force them and their investors to shoulder more taxes.

article thumbnail

Driving Towards a Sustainable Future: The Rise of Electric Autos in India

Baua Electric

With the global push towards sustainability, the rise of electric autos in India comes as no surprise. The Indian government has introduced various incentives and initiatives, such as subsidies and tax benefits, to promote the adoption of electric autos.

India 98
article thumbnail

NITI Aayog bats for incentives for LNG-fuelled commercial vehicles – ET Auto

Baua Electric

This will help lower carbon dioxide emissions and contribute towards the national goal of a gas-based economy by increasing the share of natural gas in the primary energy mix to 15% by 2030, it said in its report jointly prepared with the embassy of Netherlands.