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Tesla to Get Benefits If It Manufactures Electric Vehicles in India, Says Federal Minister
Tesla to Get Benefits If It Manufactures Electric Vehicles in India, Says Federal Minister
Sputnik International
As per current Indian laws, the customs duty on cars imported as completely built units (CBUs) is 60 percent for vehicles priced below $40,000 while 100... 02.05.2022, Sputnik International
2022-05-02T16:22+0000
2022-05-02T16:22+0000
2022-10-19T20:13+0000
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Federal Minister for Road Transport and Highways Nitin Gadkari on Monday said that Tesla will get benefits should it decide to manufacture its electric vehicles in India.The minister also said electric vehicles will become cheaper than petrol vehicles in the near future.In April, the federal minister stated that Tesla is welcome in India if it decides to produce cars in the country, stressing that China-manufactured vehicles are not an option for the Indian market.Gadkari said that Tesla can manufacture its vehicles at reduced cost in India because vendors can supply high-quality spare parts to the American EV maker.Mentioning that the growth in some of the EV segments in India is around 1,300 percent, the minister noted: "He (Musk) will get a good market, and it is really a win-win situation for both…It can be easier for him to make it here in India and sell in India. He will get good profits from here. I will request him to come to India and start manufacturing".Tesla chief Musk has been asking the Indian government to slash the import tax on its electric vehicles. According to media reports, top executives of the company held a closed-door meeting with government officials in this regard.Prior to the meeting with the government officials held in October last year, Elon Musk raised concerns about launching his EVs in the Indian market, saying that the country's import duties on electric vehicles are the "highest in the world by far".
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Tesla to Get Benefits If It Manufactures Electric Vehicles in India, Says Federal Minister
16:22 GMT 02.05.2022 (Updated: 20:13 GMT 19.10.2022) As per current Indian laws, the customs duty on cars imported as completely built units (CBUs) is 60 percent for vehicles priced below $40,000 while 100 percent for those above $40,000. Tesla CEO Elon Musk has been urging the Indian government to lower the import duty on electric vehicles.
Federal Minister for Road Transport and Highways
Nitin Gadkari on Monday said that Tesla will get benefits should it decide to manufacture its electric vehicles in India.
The minister also said electric vehicles will become cheaper than petrol vehicles in the near future.
In April, the federal minister stated that
Tesla is welcome in India if it decides to produce cars in the country, stressing that China-manufactured vehicles are not an option for the Indian market.
Gadkari said that Tesla can manufacture its vehicles at reduced cost in India because vendors can supply high-quality spare parts to the American EV maker.
Mentioning that the growth in some of the EV segments in India is around 1,300 percent, the minister noted:
"He (Musk) will get a good market, and it is really a win-win situation for both…It can be easier for him to make it here in India and sell in India. He will get good profits from here. I will request him to come to India and start manufacturing".
Tesla chief Musk has been asking the Indian government to slash the import tax on its electric vehicles. According to media reports, top executives of the company held a closed-door meeting with government officials in this regard.
Prior to the meeting with the government officials held in October last year,
Elon Musk raised concerns about launching his EVs in the Indian market, saying that the country's import duties on electric vehicles are the "highest in the world by far".
