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CFAO Motors has called on government to consider reducing to zero the import and Excise Duty on hybrid electric vehicles.
Company Chief Executive Officer, Dino Bianchi, said in order to spur growth in the sector, government should also consider the reclassification of hybrid to be the same as electric vehicles.
Bianchi said this during the launch of the Toyota Hybrid Electric Vehicles in Lusaka on Thursday evening.
He said currently the segment of the market represents less then five percent of the market and would have virtually zero impact on the treasury should it be zero rated.
“The objective is for the market to move toward electric technology, we should challenge government to actively incentivise the early adopters affordability in moving in this direction lets make it affordable, we can tax it later when we have the infrastructure and volume imports,” Bianchi said.
He also thanked the government for providing a conducive business environment and the budget proposed reduction of customs and excise duty on electric vehicles.
Green Economy and Environment Minister, Collins Nzovu, commended the company for introducing such an initiative on the market and assured of government support through legislation and policies.
“Government under President Hakainde Hichilema has prioritised the promotion of the green economy agenda and its sustainability and we will work closely with the private sector and other stakeholders to ensure that such initiatives are supported,” he said
Nzovu noted with concern the high and rapidly increasing levels of pollution and the problem of environmental management.
He said this was presenting serious development issues that are negatively affecting the environment, social and economic dimensions of sustainable development and the burden was too heavy to be carried by the government alone.
“It should be shared with the private sector like yourselves by coming up with such innovations which are aimed at responding to the negative effects of climate change that has affected our society,” Nzovu said.
He said government was also aware of the challenges that may arise from various innovations such as the cost of implementing different activities.
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Nzovu assured the private sector of government’s full support and relevant pieces of legislation and policies that would encourage environmental sustainability would be put in place.
“My Ministry was committed to lead and provide an enabling environment to promote sustainable development and a green agenda as espoused in the United Party for National Development (UPND) party manifesto and the 8th National Development Plan,” he said.
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