Just days after Elon Musk tweeted that his company was “working through a lot of challenges” with the Indian government, officials suggested that the Centre wants a firm commitment from Tesla on local manufacturing of electrical vehicles in line with its Make in India vision. Along with that, it wants an investment plan of the company ahead of any discussion on tax sops. According to reports, the Centre has expressed reservation over the company's view that it could begin with local sourcing of components before shifting to manufacturing in India.
Having made its point that India's tariffs are among the highest in the world pushing the landing cost of an EV to over $40,000, Tesla is pinning its hopes on the Union Budget for changes in the tax structure, a Reuters report said. But, there's action beyond the Centre's caveat on local manufacturing.
This story is from the January 21, 2022 edition of Business Standard.
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This story is from the January 21, 2022 edition of Business Standard.
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