EV manufacturers could lose edge if GST slashed on ICE vehicles: HSBC Report

Electric vehicle (EV) manufacturers may face a competitive setback if the government proceeds with a proposed reduction in Goods and Services Tax (GST) on internal combustion engine (ICE) vehicles, according to a recent report by HSBC Investment Research. The report highlights that lowering taxes on traditional vehicles could erode the pricing advantage currently enjoyed by EVs, potentially slowin…