Tax Structure Changes - Business Outrank

Volvo Car India is ready to introduce plug-in hybrid vehicles in India, but only if the current tax structure becomes favorable, said Managing Director Jyoti Malhotra. Speaking at the launch of the refreshed XC60—now priced at ₹71.9 lakh—Malhotra emphasized that while Volvo’s global portfolio includes plug-in hybrids, India’s existing tax framework makes their introduction challenging. Under present regulations, hybrid passenger vehicles exceeding 4 meters in length or equipped with engines larger than 1200cc (petrol) or 1500cc (diesel) are taxed at 28% GST plus an additional 15% cess. “With the current structure, mild hybrids offer the best value to our customers,” Malhotra said. The updated XC60, assembled at Volvo’s Bengaluru facility, features mild hybrid technology for this reason. However, he confirmed that Volvo is keeping a close watch on policy changes and would consider plug-in hybrids if conditions improve. Malhotra welcomed increased competition from brands like Tesla, saying, “India needs more players. It gives customers more choice.” He also noted a growing interest in electric and new-generation vehicles over the past 6–7 months, adding that a vibrant EV market benefits consumers and accelerates green mobility adoption.

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