MUMBAI - Tata Motors (NYSE:TTM), a major player in the automotive industry, has voiced concerns over the proposed tax incentives for hybrid vehicles, arguing that such measures could hinder progress towards net-zero environmental goals. According to Shailesh Chandra, these incentives for hybrids, which are not as efficient as electric vehicles (EVs) and still depend on fossil fuels, may not deliver substantial environmental benefits.
The company has been actively focusing on expanding its electric vehicle portfolio, as demonstrated by the recent introduction of the Punch EV. This new addition, priced at ₹ 11 lakh, comes from Tata Motors' acti.ev platform and is part of a broader strategy to grow EV sales by 40% in 2024. Tata Motors' roadmap includes the launch of several upcoming models such as the Curvv, Harrier, Altroz, and Sierra EVs, as well as premium EVs from the Avinya platform, underscoring the firm's commitment to sustainable transportation solutions.
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