New Delhi, Sept. 4 -- India's big goods and services tax (GST) reset, while a relief for small cars and two-wheelers, may turn into a roadblock for the electric vehicle (EV) revolution.
With tax rates on mass-market petrol and diesel vehicles slashed, the price gap between conventional and electric models is set to widen, raising fresh doubts over EV adoption in the near term, industry experts warn.
EVs are already more expensive to make than internal combustion engine (ICE) vehicles. A concessional GST rate of 5% had earlier helped bridge this gap, narrowing sticker prices and encouraging consumers to recover the higher upfront cost through lower operating costs.
But with two-wheelers below 350cc and cars under 4 metres now taxed at 1...
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