Tata Motors to Increase Prices of its Cars from Next Month

Tata Motors, one of the big automobile companies, has announced to increase the prices of all its vehicles from next month. The company has said that the reason for this is to reduce some of the burden of increase in input costs. The increase in prices will be applicable to cars with petrol and diesel engines as well as electric vehicles (EV).

According to a media report, it has been said that the prices of its cars will be increased by 0.7 percent. Tata Motors has launched its second electric SUV Punch. With this the company has four electric vehicles. Recently Maruti Suzuki also increased the prices of its passenger vehicles. Some other automobile companies have also increased the prices of their cars.

Tata Motors plans to install around 10,000 charging stations for EVs in the next two years. For this, tie-ups have been made with operators like Chargezone, Glida, Statiq and Zeon. Tata Motors ranks first in the EV segment of the country. It also has a large EV charging network. The company has sold more than 1.15 lakh electric vehicles.

Chargezone, Glida, Statiq and Zeon have around 2,000 charging stations across various cities in the country. With the tie-up with Tata Motors, their number will increase to around 12,000. Tata Motors has requested the Central Government not to give tax exemption on hybrid cars. Toyota, the leading company in the hybrid car segment, had demanded a tax cut on hybrid vehicles. Tata Motors has its presence in both the Internal Combustion Engine (ICE) and Electric Vehicles (EV) segments. A Reuters report said that Tata Motors says that the tax on hybrid cars should not be reduced because they emit more pollution than EVs. Earlier, Tata Motors had also opposed giving tax exemption on import of electric cars to American EV maker Tesla. Hybrid cars that use an electric battery pack with a petrol engine and an electric motor have a tax of 43 percent in the country. In comparison, petrol engine cars attract a tax of 48 percent. There is a five percent tax on EV.