Good news coming up for the Mahindra and Mahindra (M&M) vehicle lovers in India. The company has just announced that it will decrease the price of e-Verito by up to INR 80,000 to pass the benefit of reduced GST on electric vehicles to the customers.
The CEO of Mahindra Electric, Mahesh Babu, said, “Mahindra will pass on these benefits to customers across our entire product range with immediate effect. This tax cut along with the strong FAME II policy will see the adaption rate in electric vehicles going up drastically with a boost to India’s last and first-mile mobility.”
The price of the electric three-wheeler, Treo has also been decreased by up to INR 20,000 by the company. Now, the Treo series vehicle will start from INR 2.05 lakhs (on-road). The GST on electric vehicles has been reduced from 12% to 5% by the GST council 36th meeting that is effective in India from August 1, 2019. Similarly, GST on EV charges has also been slashed from 18% to 5%.
Seeing such GST reduction around electric vehicles, the price cut announcement around e-vehicles is also expected from other electric vehicle manufacturers in India in upcoming months.
