posted by :puru | date: July 22, 2022, 8:16 a.m.
Username : puru
Tesla’s manufacturing plan in India – what stands in the way? As per a latest report by Reuters, two sources with knowledge of the matter, who did not wish to be identified, have revealed that Tesla recently wrote to Indian ministries seeking a big reduction in import duties that are levied on electric vehicles. However, Tesla’s appeal is likely to be turned down by the central government, particularly as it has advocated high import taxes for many industries in a bid to boost local manufacturing. In the letter to the ministries and country’s leading think-tank NITI Aayog, Tesla said that reducing the central taxes on import of fully assembled electric vehicles to 40 percent would be more appropriate, as per the sources. Currently, import duties on cars priced below $40,000 is 60 percent, and it’s 100 percent for cars priced above$40,000. "The argument is that at 40 percent import duty, electric cars can become more affordable but the threshold is still high enough to compel companies to manufacture locally if demand picks up," one of the sources said.https://www.autocarindia.com/car-news/tesla-to-rely-on-success-of-imports-before-investing-in-a-local-factory-421526