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‘‘Rational tax system soon to boost EVs’
Context:
- The government on Tuesday said it was trying to bring out an industry-friendly new National Automotive Policy as well as a rational system of taxation for promoting electric and hybrid vehicles.
Significance of this decision:
- The policy will help create a more ‘enabling’ environment for the sector besides providing stability that overseas investors seek.
What is electric vehicle?
- All electric vehicles run on electricity only. An electric vehicle uses one or more electric motors or traction motors for propulsion.
- An electric vehicle may be powered through a collector system by electricity from off-vehicle sources, or may be self-contained with a battery, solar panels or an electric generator to convert fuel to electricity.
- EVs include road and rail vehicles, surface and underwater vessels, and electric spacecraft.
