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The Hyundai Kona Electric was just about launched and is currently priced at Rs 25.30 lakh (ex-showroom, India). For most, that is a lot of money to shell out for an electric, however, the good news is that the Kona Electric could see a reduction in pricing of up to Rs 1.40 lakh in the weeks to come.
The recent Union Budget saw the Finance Minister Nirmala Sitharaman announce a possible reduction in the Goods and Services Tax (GST) that is currently applicable on electric vehicles. The GST Council has been informed and has been asked to reduce the current rates from 12 percent to 5 percent.
Having said that, it is only a proposal at this point, and unclear whether the government intends to extend this GST cut to all EVs or only to models within a certain price range. If the proposal is accepted, and if it covers all electric vehicles, Hyundai will pass on the benefit to buyers of the Kona Electric.
Speaking about the effect the reduction of GST might have, Puneet Anand, Senior General Manager & Group Head for Marketing at Hyundai India said that the company expects the GST cut to result in a benefit of Rs 1.40 lakh. However, Mr Anand also mentioned the possibility of the Kona Electric being left out of the of the GST reduction.
Hyundai Kona Electric buyers could get an additional incentive with the government's proposal to offer benefits in the form of deductions of up to Rs 1.50 lakh from taxable income on the interest payable on loans taken for EV purchase.
The Hyundai Kona Electric features a 39.2kWh Lithium-ion battery pack. Performance output figures stand at 136bhp of power and 395Nm of torque. The company claims that the 0-100kph sprint can be done in just 9.7 seconds and that the car offers a range of 452km over a single charge.
The battery on the Hyundai Kona Electric takes approximately an hour to charge up to 80 per cent using a 50kW DC fast charger, or roughly six hours using a wall-box charger, which Hyundai provides with the EV.
Hyundai is also in the process of installing DC fast chargers at select Indian Oil petrol pumps in four major cities. The Hyundai Kona Electric comes with a 3-year/unlimited warranty as standard, and an 8-year/1.6 lakh kilometer warranty for the battery.
Thoughts About The Possibility Of Prices Dropping By Rs 1.40 Lakh For The Hyundai Kona
Well, any reduction in price for an electric, or otherwise is always good news. This is great news for folk who are interested in buying electric cars. The only thing we see is that the changes in pricing may take a while - the Indian government you see, nothing gets through in time!