Indian government to promote hybrid car manufacturing
The Indian government will propose a policy to promote manufacturing of hybrid cars in the country by providing excise duty concessions.
The Indian government will propose a policy to promote manufacturing of hybrid cars in the country by providing excise duty concessions.
The manufacturing of hybrid cars will protect environment and reduce the country's dependence on fossil fuel.
Heavy Industries and Public Enterprises Minister Praful Patel will pilot the proposal.
The policy will also incentivise research and development for development of the hybrid vehicle.
The Department of Heavy Industry will also seek the Cabinet's approval to form a high-level panel on the issue.
India currently imports Hybrid cars, which runs both on the conventional fuel as well as with electricity charged battery.
The costs of these cars are high, as these cars are priced at least 25% more than the regular petrol or diesel fuelled vehicles.
The country currently imports Toyota Prius Hybrid at a price of over $2.5m.
In 2008, Honda launched its Civic Hybrid at $2.15m and later reduced to $1.36m, however Honda later stopped selling the car due to cost ineffectiveness.
The department is also conducting a study to assess the infrastructure availability and sops needed for the promotion of these cars in the domestic market.
The hybrid technology is pioneered by Japan, the US and Europe, according to economictimes.com.
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