Elon Musk’s Tesla has been trying to enter the Indian market for years, but due to several roadblocks, it has not been able to capitalize on the biggest market. However, now it is all set.
India has finally agreed to lower the tax duty from 100% to 15% on EV imports and has also passed the bill in this regard.
Initially, India has agreed to import 35,000 electric vehicles per year at the 15% import tax rate. This is a huge win for Tesla to enter the Indian market.
However, Narendra Modi’s government has imposed a clause that Tesla has 3 years to start manufacturing their cars locally in India.
Musk also met Modi last year, and Tesla representatives visited India several times to identify a location for their prestigious plant. With the crucial tax issue resolved, it will be just a matter of time before they announce the launch and the location.
Media speculations suggest that Tesla will end up in Gujarat.
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