Electric vehicle makers may get tax sops

  • 23/06/2011

  • Financial Express (New Delhi)

New Delhi To give a fillip to environment-friendly vehicles, a committee formed by the heavy industries ministry is considering lucrative tax breaks and incentives for automakers to produce and sell electric vehicles. The committee, which would also have representatives from the industry, has been set up to identify the challenges to a viable electric vehicle. At present, top automakers like Maruti Suzuki, Hyundai Motor and Tata Motors have shied away from introducing electric vehicles citing lack of infrastructure and fiscal incentives for making such large-scale investments. Though industry sources have maintained that these companies have been quietly working behind the scenes to create prototypes of electric vehicles, officially, the original equipment manufacturers (OEMs) have refused to elaborate on their plans. The cause for electric powered vehicles got a shot in the arm earlier this year with finance minister Pranab Mukherjee