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Argentina cuts import duties on electric, hybrid cars

Staff Writer |
Argentina's government said it slashed import duties on electric, hybrid and hydrogen cars to spur sales in a wider effort to reduce fossil fuel consumption after years of dwindling production.

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The duties will run from 0%-5% on imported electric, hybrid and hydrogen cars, down from 35% previously, according to a presidential decree.

The lower duties will be in place for three years, effective immediately, according to the decree published in the Official Bulletin, the government's newspaper of record.

Under the scheme, a combined maximum of 6,000 units can be imported, all of which must weigh 400 kilograms or more for use as passenger cars and 550 kilograms for cargo transport. This restriction eliminates tiny electric cars and trucks from the tax benefits.

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