Tuesday, May 24, 2022

Shock to Elon Musk! India sticks to its terms on Tesla, latest details

India is adamant on its own terms by taking Tesla to Elon Musk. The Modi government has stuck to a waiver without guaranteeing Tesla cars will be made in India. Tesla is desperate to sell its electric cars in India and has engaged the authorities in New Delhi to reduce tariffs for almost a year. But Indian official sources said they were not satisfied with the arguments made by Tesla executives as the company is yet to share any concrete plans to invest in the country which is in line with Prime Minister Narendra Modi’s “Make in” initiative to boost local manufacturing. India” and generate employment.

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first make in india then talk about discount

The Ministry of Heavy Industry has told Tesla that Tesla should come to India and make a car first, then any exemption will be considered. Sources close to the government say that by giving exemption to Tesla, it does not want to send a wrong message to the entire industry as many domestic companies like Maruti, Hyundai, Tata, Mahindra have invested heavily here. Tesla wants to sell imported cars here instead of manufacturing cars in India.

Elon Musk’s demand from the Indian government

Elon Musk wants the Indian government to reduce the import duty on Tesla cars, so that he can easily sell Tesla cars made abroad in the Indian markets. But the Indian government is not at all ready about this. Recently, it was said by the central government that the pressure of Elon Musk is not going to have any effect.

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So much tax is levied on foreign cars

Currently, India imposes a 100% tax on imported cars valued above $40,000 (Rs 30 lakh), which includes insurance and shipping expenses, and a 60 percent import tax on cars below $40,000.

Tesla’s entry in Turkey before India

Tesla, the electric vehicle company of the world’s richest man Elon Musk, has officially entered the Turkish market. According to media reports, Emir Tunyurek, former Turkish consultant and co-founder of e-Garage, will manage Tesla Turkey’s operations.

Indian market not easy for Tesla

Auto market experts say that it is not easy to compete in the Indian electric vehicle market. Here along with domestic companies like Tata and Mahindra, companies like Maruti, Hyundai, MG, Mercedes, Audi and JLR are already present in the market with their products. In such a situation, the Indian market is very challenging for Tesla on the basis of one or two models.

fast growing Indian market

The attraction of companies in the Indian electric vehicle market is its fast pace. According to a report by Mordor Intelligence, the Indian electric vehicle market is expected to grow to $47 billion by 2026. The report said that despite the Corona crisis, due to the policies of the Government of India, the electric vehicle market here is growing faster than expected.

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