Tesla May Get Big Gift Before Starting Business in India, Government Planning to Reduce Import duty on EVS

Tesla, one of the large electric vehicle (EV) companies, is preparing to start business in India. The central government is working on a new policy to promote the manufacturing of EV in the country. In March last year, the government reduced custom duty to 15 percent on imports of EV with special conditions.

A media Report According to the new EV policy, the turnover may be required to increase Rs 2,500 crore within the second year of car makers for car makers. With this, the government can reduce import duty further. There was a need to invest a minimum of Rs 4,150 crore to start manufacturing in the policy introduced last year. Manufacturing was to be started within three years. The new EV policy can be announced in mid -March. Applications received for this can be approved in the next few months.

Billionaire Elon Musk -led Tesla may initially depend on its gigafactory in Berlin, Germany for import in India. After this, the company will start manufacturing in the country. Last week, Prime Minister Narendra Modi also held a meeting with Musk during a visit to the US. A recent Bloomberg report reported that Tesla plans to sell electric cars in Delhi, Mumbai and Bangalore initially. However, it is not known which Tesla models will be brought to the country. The company has factories in the US, China and Germany. The tariff can be reduced on the import of electric vehicles in India as part of the trade deal with the US. This may include increasing the limit of 8,000 vehicles on low tariffs to about 50,000 units.

America and China are big markets for Tesla. However, the company is getting a tough competition from the Chinese Ev Maker Byd. Recently, this American company in India also sought applications from candidates for some jobs. These include jobs related to advertising and customer service. Tesla has sought applications for jobs in Delhi and Mumbai. For the past few years, there have been some rounds of talks between the central government and Tesla.