GST Cut May Hinder Electric Car Growth, Slowing Down EV Industry

Proposed GST cuts on small cars by the Indian government could adversely affect electric vehicles. This tax reduction could slow down the pace of the EV industry in the country. A report by HSBC Investment Research raises concerns about this. According to the recent HSBC report, if the government reduces GST on small cars, electric vehicle (EV) manufacturers could face a setback. Lowering taxes on small cars could diminish the current price advantage enjoyed by electric vehicles, potentially slowing down growth in the EV sector.