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.
For companies like PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FRA: 103) that are looking to expand internationally, the growing trend of…
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