Hyundai Kona Prices Cut by Over Rs 1.50 Lakh After GST Rate Cut On EVs
Tata Motors too has cut prices of its Tigor EV by up to Rs 80,000.
Hyundai Motor India Pvt. Ltd. has reduced the prices of Hyundai Kona electric car by Rs 1.58 lakh to pass on the benefits of a GST rate cut on electric vehicles.
Hyundai Kona prices now start at Rs 23.71 lakh as compared to Rs 25.30 lakh earlier. The prices are effective Aug. 1, 2019, the South Korean carmaker said on Friday.
The company said it has already received 152 bookings for the Kona, which will be sold from 15 dealerships across 11 cities in India.
On Thursday, Tata Motors Ltd. announced price cut on Tigor EV by up to Rs 80,000 to pass on the benefits of the GST rate cut on EVs.
The GST Council had on July 27 decided to reduce the GST rate on EVs to 5 percent from 12 percent, effective Aug. 1. I also reduced the tax incidence on EV charging stations from 18 percent to 5 percent.