Latest News | Govt Should Review GST Rates on Vehicles Powered by Clean Fuels, Says Bajaj Auto MD
Get latest articles and stories on Latest News at LatestLY. Bajaj Auto Managing Director Rajiv Bajaj on Friday suggested that the government should review GST rates on vehicles powered by clean fuels.
Pune, Jul 5 (PTI) Bajaj Auto Managing Director Rajiv Bajaj on Friday suggested that the government should review GST rates on vehicles powered by clean fuels.
At the launch of the first integrated motorcycle Freedom 125 here, Bajaj also voiced concerns about the use of "unsustainable subsidies" to promote electric vehicles.
Earlier, he along with Union Minister for Road Transport and Highways Nitin Gadkari launched the world's first CNG-run bike in three variants at a starting price of Rs 95,000 (ex-showroom).
"I would call it a suggestion that the government should seriously review GST rates...Just as they've done the right thing with the five per cent GST for electric (vehicles)," Bajaj said.
Calling the subsidies "paradoxically unsustainable" and the ongoing push for the electrification in the automobile industry across the world "chaos," he said, "How can sustainable technologies be promoted by unsustainable subsidies, not only in India but worldwide...we want freedom from all of this."
According to Bajaj, there is a party happening in the EV segment as of now.
This groundbreaking innovation will revolutionise the two-wheeler industry by providing a cost-effective and environmentally friendly alternative to traditional petrol motorcycles, the company said.
Bajaj Auto claims that its Freedom CNG motorcycle offers around 50 per cent cost savings by significantly reducing fuel expenses compared to similar petrol motorcycles.
The CNG tank provides a range of 200-plus kilometres on just 2 kilograms of CNG fuel.
Additionally, it has a 2-litre petrol tank which performs as a range extender, offering over 130 km of range in case the CNG tank empties, ensuring an uninterrupted journey.
"The Bajaj Freedom 125 showcases Bajaj Auto Ltd R&D and manufacturing prowess. Through innovation, Bajaj Auto Ltd has addressed the twin challenge of reducing rising fuel costs and reducing the environmental footprint from travel. The initiative also aligns strongly with the government of India infrastructure projects if building a CNG network driven by the need to use cleaner fuels and save foreign tourism exchange," Rakesh Sharma, Executive Director of Bajaj Auto Ltd, said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)