Tesla will enter India!  The government has now placed a new condition in front of the company, know the whole matter

Tesla will enter India! The government has now placed a new condition in front of the company, know the whole matter

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new Delhi. Tesla is constantly trying for its entry in India. At the same time, now big news has come out about this. According to a Bloomberg report, the Indian government wants the electric car Tesla to buy local auto parts worth $ 500 million, or Rs 3750 crore, to be eligible for a cut in import tax in the country.

The report claimed that the Indian government has formally asked Tesla to increase domestic sourcing. However, Tesla has not yet commented on this. Interestingly, Tesla had earlier claimed in August 2021 that it had sourced around $100 million worth of auto parts from India for its electric vehicles. Tesla will have to increase the purchase of Indian parts by about 10 percent to 15 percent to take advantage of the exemption in import duty.

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Tesla’s hindrance to import duty
Despite its desire to enter the Indian auto market, the electric car maker is facing a bottleneck due to the high rate of import duty. The automaker plans to first import its electric cars as Completely Built Unit (CBU) models. However, due to the higher tax rate, the cost of CBU Tesla cars will be much higher. Tesla is demanding a cut in tax from the government, while the Indian government is not willing to reduce the tax.

Tesla’s demand
It is worth noting that in July last year, Tesla had asked the Prime Minister’s Office to reduce the import tax on electric vehicles (EV). Tesla wants to sell its electric cars in India by importing them from outside. Tesla is demanding a reduction in import tax by saying more.

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This is the condition of the government
The government has invited Elon Musk to start production in India. But Musk initially wants to sell his imported cars in India. He wants the government to reduce the duty on vehicle imports. Imported vehicles attract 100% duty in India. However, importing parts for assembling in India attracts 15-30 per cent duty.

Tags: auto news, Electric Car, Elon Musk, Tesla car

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