TODAY.AZ / World news

Turkish local electric car Togg given tax advantage

03 July 2022 [19:17] - TODAY.AZ

By Trend

Türkiye’s first local car Togg, which is expected to be on the streets in the first quarter of next year, has been given a head start with a law decreasing the Special Consumption Tax (ÖTV) for electric cars of its class, Trend reports citing Hurriyet Daily News.

The tax amount to be collected from electric cars whose engine power does not exceed 160 kW and whose price excluding tax does not exceed 700,000 Turkish liras ($41,000) will be 10 percent, while the tax of those whose price excluding tax exceeds 700,000 liras will be 45 percent, according to the law.

Regarding the cars whose engine power exceeds 160 kW, the ÖTV rate will be 50 percent for those whose price exceeds 750,000 liras ($44,000), and 60 percent for those whose engine power exceeds 750,000 liras.

Considering the new ÖTV rate and the maximum price excluded tax of 700,000 liras, it is estimated that the price of the first C-segment SUV model to be offered by TOGG will be around 908,000 liras ($54,000).

“We aim to protect domestic production by decreasing the ÖTV and making Togg attractive,” said Mustafa Elita?, the deputy parliamentary group leader of the ruling Justice and Development Party (AKP).

Before this law, the ÖTV rate of electric cars whose engine power doesn’t exceed 85 kWh was 10 percent, while it was 25 percent for electric cars between 85 kW and 120 kW.

URL: http://www.today.az/news/regions/222506.html

Print version

Views: 409

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: