Budget 2023: 'Government has been very kind to the EV sector'
"I am sure the government knows its job, and it will do well. If it is progressive for the country, the auto industry will gain," he said when asked about his expectations from Finance Minister Nirmala Sitharaman's Budget 2023.
Whatever is good for the economy will be good for the auto industry, said Hyundai Motor India COO Tarun Garg when Asianet News met him on the sidelines of the Auto India 2023 at Greater Noida in Uttar Pradesh.
"I am sure the government knows its job, and it will do well. If it is progressive for the country, the auto industry will gain," he said when asked about his expectations from Finance Minister Nirmala Sitharaman's budget 2023.
As far as specifics requirements are concerned, Tarun said: "Society of Indian Automobile Manufacturers (SIAM) is an organisation which takes care of the interests; how the auto industry can keep on contributing to increasing the economy of the country. I think that is the goal -- how do we bring in more and more prosperity to the country. And I am sure, together, collaboratively, we are going to do a good job of it."
On whether he expected the central government to go more aggressive with regards to sops for electric vehicle manufacturers, Hyundai Motor India COO said: "The government has been very kind. If you see, the GST on Electic Vehicles is five per cent. The PLI scheme is there. In addition, state governments are giving registration tax waivers. So a lot of things are happening in the EV sector. We are very thankful. It is really encouraging us to introduce more and more EVs and, going forward, see how we can introduce EVs in other segments as well."
Hyundai Hydrogen Plan
Asianet Newsable also sought to know Tarun's views on whether Hyundai was looking to focus on developing the Hydrogen fuel cell technology as is being showcased by its competitor MG Motor at the Auto Show 2023.
He said, "We have access to all technologies. The whole idea is ... we have to collaborate with the government. We have to see how the infrastructure is happening. But in case the infrastructure is there, in case the tax structure is favourable, then why not? So, going forward, the good advantage is that as Hyundai Motor company, we have access to hybrids, Hydrogen, electrical... everything. So, as and when required, we can bring in all kinds of technologies t India as well."