Mon. May 27th, 2024

The Government of India is not considering giving any kind of tax exemption to Tesla Inc. Tesla CEO Elon Musk said last month that Prime Minister Narendra Modi has inspired Tesla to make ‘significant investments’ in India. He also said that an announcement in this regard can be seen soon.

America’s largest electric car manufacturer Tesla (Tesla) cars have been waiting for a long time. But now this wait may end soon. Tesla has started discussions with the Center on an investment proposal to set up a car factory with an annual capacity of 5,00,000 electric vehicles (EVs) in the country. A media report has given this information on Thursday.

The report states that the prices of Tesla’s electric vehicles in the Indian market will start from Rs 20 lakh ($24,400.66).

The billionaire Elon Musk-led company is also considering using India as an export base as it plans to ship cars to countries in the Indo-Pacific region, the report said, citing government sources. . Reuters requested Tesla for comment, which did not immediately respond to Tesla.

The discussions with the Indian government show a change in strategy for the American electric carmaker. Last year, talks stalled after the Indian government refused to agree to Tesla’s request seeking lower import taxes on cars. India wanted Tesla to manufacture vehicles locally, but the company said it wanted to export its cars first so that it could assess demand for its cars.

In a new attempt to break into the domestic market with a change of stance, Tesla discussed with officials in May government incentives for car and battery manufacturing, Reuters reported.

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