The Finance Ministry is reviewing a restructuring of car excise tax that would favour locally made EVs. Current rates: 2% for locally produced EVs, 10% for imported (CBU) EVs. A proposed rate of 32% has been floated, and a change could come as early as October 2026, with details expected by September 2026. Carmakers want a stepped increase (e.g. 15% then 20%) and at least 6 months' notice, warning that cars already ordered at the old cost are arriving and customers may cancel. If you sell, import, finance or service cars or EVs, check your pricing, existing orders and stock now, and avoid committing to new import contracts until the final rate is published.