India Plans Higher EV Taxes

  Published 9 months ago

India may hike GST on luxury EVs, impacting Tesla, Mercedes, BMW, BYD, Tata, and Mahindra.

  • Tax panel suggests raising GST from 5% to 18% or 40% for high-priced imported electric cars.
  • Modi pushes GST cuts on essentials, while luxury EVs face higher taxes to encourage domestic manufacturing.
  • India’s EV sales rose 93%, but higher levies may slow luxury adoption; Tata, Mahindra are less affected.

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