Indian Tax Panel Recommends Additional Levies on Luxury EVs
Luxury electric cars in India may soon become more expensive for consumers if an Indian tax panel's recommendation for additional levies on luxury EVs goes through. According to a government document, the tax panel is proposing higher consumer levies for electric cars that cost more than $46,000, a move designed to boost consumption of locally produced goods at the expense of foreign companies like Tesla, BYD, BMW, and Mercedes-Benz. Although India's electric vehicle market is in its nascent stage, the country is a high-potential market for automakers who want to dominate the global auto landscape in the next couple of…
