Hyundai Kona prices reduced by Rs 1.58 lakh after GST revision for EVs

Hyundai Motor India on Friday said it has reduced price of Kona EV by around Rs 1.58 lakh in order to pass the benefit of reduced GST on such models to customers.

The model is now priced at Rs 23.71 lakh as compared with Rs 25.3 lakh earlier.

The reduced Kona Electric price is effective from August 1, 2019, Hyundai Motor India said in a statement.

The company said it has already received 152 bookings for the model which will be sold from 15 dealerships in 11 cities.

On Thursday, Tata Motors had announced price cut on Tigor EV by up to Rs 80,000.

Last week, the high-powered GST Council decided to reduce the tax rate on electric vehicles (EVs) to 5 per cent from the existing 12 per cent effective from August 1.

It also slashed the Goods and Services Tax (GST) on EV chargers from 18 per cent to 5 per cent.


Mahindra reduces e-Verito price by Rs 80k

Mahindra & Mahindra on Friday said it has reduced prices of e-Verito by up to Rs 80,000 in order to pass the benefit of reduced GST on EVs to customers. Post the GST rate cut announcement, Mahindra e-Verito will cost Rs 10.71 lakh (including FAME benefits, on-road price, Delhi). "Mahindra will pass on these benefits to customers across our entire product range with immediate affect. 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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