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Tesla Asks Prime Minister's Office To Cut Taxes Before Its Entry In India

News In Brief Business and Economy

Tesla Asks Prime Minister's Office To Cut Taxes Before Its Entry In India

tesla-asks-prime-minister-s-office-to-cut-taxes-before-its-entry-in-india

News Synopsis

Tesla has made a name for itself all across the world. Now the popular car wants to enter the markets of India. The car company is planning to sell imported cars in India. But the import duty seems to be a problem for the company. The company has asked the P.M. Office to cut the import duty before its entry into the market. 

India imposes a 40% import duty on electric vehicles and an import duty of 100% on anything that costs more than $40.000. According to Tesla, if the cars enter the Indian market at these rates then the cars will be too costly for the customers. The cost of the cars can exceed the price limit for the customers. 

The meeting was also scheduled between the officials and Tesla executives but the outcome of the meeting is still unknown. The Transport Minister of India has said that teals need to have locally manufactured cars in Indian Markets instead of importing the made in china cars in India. 

Elon Musk has also said in a tweet that if Tesla is successful in the Indian market with Imported Vehicles then, the company can set up a factory for the manufacturing in India. 

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