Home / Business / Tesla in talks with India to reduce import duty, says Elon Musk : Cars, News quoting : The Economic Times

Tesla in talks with India to reduce import duty, says Elon Musk : Cars, News quoting : The Economic Times

As it stated in

If the electric car is assembled in India, the customs duty on the completely knocked down units is 10 per cent.
“In discussion with the government of India requesting temporary relief on import penalties/restrictions until a local factory is built,” Musk said in a tweet.
The US-based electric car major Tesla is in discussion with Indian government seeking relief on import duties till a local factory is built here, according to the company’s Chief Executive Elon Musk.
Earlier this year, Musk had stated that he was hoping for Tesla to enter India this summer with its products, which has so far not materialised.
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, 2017At present, India imposes 60 per cent customs duty on import of completely-built electric cars priced less than USD 40,000.

As it stated in

Elon Musk: Tesla in talks with Indian government for relief on import restrictions: Elon Musk

Elon Musk: Tesla in talks with Indian government for relief on import restrictions: Elon Musk

ET was first to report that Tesla need not source locally to set up a base in the country.
You don’t want to leave that whole market to Mahindra, do you?
Mahindra reached out to Musk on the microblogging platform.
But oil minister Dharmendra Pradhan told ET late last month that the government had not taken a final decision on this.Nevertheless, Musk’s tweet attracted a swarm of response from Tesla enthusiasts from India, who included Mahindra, the chairman of Mahindra & Mahindra.
“India commits to sell only electric cars by 2030.

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