Raising taxes on EVs will make electrification path difficult: Kia India MD

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Raising taxes on EVs will make electrification path difficult: Kia India MD - Business Standard

Quick Summary:

The company, which unveiled its new company SUV Syros, is looking at around 17 per cent sales growth next year at 3 lakh units as compared to 2.55 units expected this year.

Increase in tax on electric vehicles will make it difficult for the electrification journey of the Indian automotive industry, Kia India Managing Director and CEO Gwanggu Lee said on Thursday.

There has been speculation that the GST rate on used EVs, currently taxed at 12 per cent, may be reclassified into the higher 18 per cent tax slab.