Tesla 'quite likely' to build factory in India, says Elon Musk1 min read . Updated: 24 Jul 2021, 04:58 PM IST
Elon Musk sees a possibility of Tesla factory in India if the imported cars are able to succeed.
- Musk also hopes for temporary tariff relief for electric vehicles for the promotion of its EVs in India.
Tesla Inc is likely to launch in the Indian market soon. The company has also recently written to Indian ministries seeking a reduction in import duties on electric vehicles (EVs) in a bid to promote the sales of its electric cars in India.
Now, replying to the popular Indian Youtuber Madan Gowri on Twitter, the company CEO Elon Musk has said that Tesla 'factory in India is quite likely' but at the condition that its imported cars first succeed in the country.
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Here's what Musk said:
In another Tweet, Musk can also be seen hoping for a 'temporary tariff relief for electric vehicles' while replying to one of his followers' tweets. The billionaire said that Tesla wants to launch its cars soon in India, but Indian 'import duties are the highest in the world by far of any large country!'
The American electric vehicle maker aims to begin sales in India this year, as per a letter to ministries and the country's leading think-tank Niti Aayog that reducing federal taxes on imports of fully assembled electric cars to 40% would be more appropriate, suggest sources.
For the record, currently, India imposes 100% import duty on fully imported cars with CIF (Cost, Insurance and Freight) value over $40,000, while 60% duty is imposed on cars that cost less than the amount.
Previously, Tesla registered a local company in India earlier this year. It has also ramped up hiring to administer the Indian operations.