Mercedes CEO frowns over GST Hike on Luxury EV Cars

The CEO of Mercedes-Benz India expressed concerns over the recent GST hike on luxury electric vehicles (EVs). The GST rate on luxury EVs was increased from 5% to 18%, significantly impacting the pricing and market competitiveness of these vehicles. The CEO argued that the hike contradicts the government’s push for electric mobility and could hinder the adoption of EVs in the luxury segment. The increase in GST is seen as a setback for the luxury EV market, which is still in its nascent stage in India. The industry is urging the government to reconsider the tax hike to support the growth of electric mobility.