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Tesla In Negotiations With Government Of India To Relax Import Duties
Tesla CEO Elon Musk has tweeted that the company is in talks with the Indian government to relax import duties on its cars until a factory is set up in the country.
Chairman, CEO and Founder of Tesla, Elon Musk has been very vocal on Twitter, about Tesla's entry into the Indian market. His interest in the Indian market is very evident as he enthusiastically tweets, retweets and replies to tweets about the Indian market.
Today, When a Twitter user named Jasveer Singh tweeted a question to Elon Musk and tagged him in it, Elon Musk replied to the tweet quickly. The question was about Tesla's entry into India, and Jasveer had asked if it had been postponed. Musk replied saying, Tesla is in discussions with the Indian government to see if import restrictions can be relaxed until a Tesla factory is built.
In discussions with the government of India requesting temporary relief on import penalties/restrictions until a local factory is built
— Elon Musk (@elonmusk) June 14, 2017
Both Tesla and the Indian government have been eager to bring the US-based electric car manufacturer to the Indian market. The urge to bring Tesla down to India became stronger when the Indian Government announced that all cars sold in India would have to be Electric, as the sale of petrol and diesel cars would apparently be banned by then.
The Government of India does seem to be setting ambitious plans one after the other, as they even want to ensure that at least 60 lakh Electric cars are sold in India by 2020. While this is good news for the environment and is the right way ahead, it would be difficult to achieve as Mahindra is the only mainstream manufacturer in India with electric cars in its product portfolio.
Mahindra
currently
sells
three
all-electric
cars
-
e2o
Plus,
eVerito
and
eSupro
3,
and
that
is
about
it.
For
the
Indian
Government's
plans
to
realise,
our
market
needs
more
electric
cars
and
more
manufacturers.
It
is
for
this
very
reason
that
the
Indian
government
is
interested
in
bringing
Tesla
to
our
shores.
The
only
big
problem
left
here
now
is,
the
Indian
laws
and
restrictions
on
the
import
of
automobiles.
Under
the
current
tax
bracket,
the
government
imposes
an
import
duty
between
100
percent
and
120
percent
for
Completely
Built
Units
(CBUs).
If Tesla plans to launch its cars right now, the cars would be more than twice as expensive as they currently are in the US market, which would ultimately result in lower sales numbers. Hence Tesla is in talks with the Indian government to relax the import duty for its cars until a local factory is built.
This is great news for Tesla enthusiasts and prospective customers in India, as it reaffirms Tesla's arrival in India. What makes it even better is, Musk's tweet also confirmed the setting up of a Tesla factory in India. A Tesla Gigafactory in India just sounds like the coolest thing.
Drivespark
Thinks!
Tesla's
arrival
in
India
is
inevitable,
and
the
setting
up
of
a
local
factory
means
Tesla
will
be
able
to
price
its
cars
aggressively.
Things
seem
to
be
taking
shape
very
well
for
the
electric
car
market
in
India.
Mahindra already has three electric cars, which take up the entry level electric car segment, and then there's Tesla with its premium electric cars. We will also see other manufacturers slowly starting development of electric cars.