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Indian Tax Panel Recommends Additional Levies on Luxury EVs

September 05, 2025 at 10:05 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

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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