Hoping for revision of taxes on hybrid vehicles: Rajan Wahera, M&M

Rajan Wahera, M&M, told ET Now that electric vehicles will be in focus in future but said that the sales of hybrid vehicles are dissapointing.

Edited Excerpts

ET Now: How have the sales recently?


Rajan Wahera: I think the volumes that are coming now is a consequence of the festival season. Pre-GST, post-GST I do not see the effect on the volumes.

ET Now: Hybrid is one segment that has been worst affected as far as GST is concerned so what is your outlook going forward, do you expect some sort of revision from the government?

Rajan Wahera: I personally believe that the focus on the electric vehicle will continue. Hybrid may not be attracting the attention but you never know with the way the cess has gone up, I wish the same way the revision happens on the hybrid vehicles also.

ET Now: How have been the volumes for the hybrid vehicles post the GST?

Rajan Wahera: Not very encouraging.

ET Now: You plan to announce invest about 12,000 crores in the business, what are the areas in which we can expect this investment to be in?

Rajan Wahera: Well electric vehicles of course, electric engine which has motors, controllers and other infrastructure investments will be there.

ET Now: About your global expansion strategy, what can we expect from M&M going forward?

Rajan Wahera: Definitely we are looking at few markets which are like home markets and emerging in nature. Our products find a fit there so those are the kind of markets we will grow into.

ET Now: In the face of a good monsoon that have been predicted and even the progress of the monsoon has been very decent this year. Do you expect an increase in the sales as we go forward actually with the festive season…?

Rajan Wahera: Yes both in the passenger as well as in the commercial we do feel that there will be growth.