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Tesla EV Car In India Soon: Elon Musk

Tesla EV Car In India Soon: Elon Musk

Tesla CEO Elon Musk emphasized the importance of India embracing electric vehicles, stating that it's a natural progression for every country to adopt them. He expressed his company's commitment to providing Tesla electric vehicles in India during a X Spaces session with Nicolai Tangen, CEO of Norges Bank Investment Management.

Musk highlighted that in the future, all vehicles will transition to electric power, marking a significant shift in the automotive industry.

Tesla has been actively pursuing opportunities in India, including the search for a suitable location to establish a cutting-edge manufacturing plant. Both Maharashtra and Gujarat have offered attractive land deals to Tesla, with estimated investments ranging from USD 2 billion to USD 3 billion. This move aligns with India's new EV policy, which incentivizes the establishment of EV manufacturing plants in the country.

The Indian government's EV scheme aims to attract global EV manufacturers, promote advanced EV technology adoption, and support the Make in India initiative. It sets a minimum investment threshold of ? 4150 crore (USD 500 million) and encourages significant domestic value addition (DVA) in manufacturing.

Under the policy, manufacturers are required to achieve at least 25% DVA by the third year and 50% by the fifth year of operation. For vehicles valued at USD 35,000 or more, a 15% customs duty will be imposed for five years if manufacturers build facilities in India within three years.

Tesla plans to send a team to scout locations for its manufacturing facility in India. The government is set to invite applications for the EV tariff reduction scheme, allowing eligible companies to import up to 8,000 vehicles annually.

Elon Musk expressed confidence in Tesla's presence in India, intending to visit in 2024 and establish operations "as soon as humanly possible." This signals Tesla's commitment to India's evolving electric mobility landscape.

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Tesla EV Car In India Soon: Elon Musk

Tesla EV Car In India Soon: Elon Musk

Tesla CEO Elon Musk emphasized the importance of India embracing electric vehicles, stating that it's a natural progression for every country to adopt them. He expressed his company's commitment to providing Tesla electric vehicles in India during a X Spaces session with Nicolai Tangen, CEO of Norges Bank Investment Management.

Musk highlighted that in the future, all vehicles will transition to electric power, marking a significant shift in the automotive industry.

Tesla has been actively pursuing opportunities in India, including the search for a suitable location to establish a cutting-edge manufacturing plant. Both Maharashtra and Gujarat have offered attractive land deals to Tesla, with estimated investments ranging from USD 2 billion to USD 3 billion. This move aligns with India's new EV policy, which incentivizes the establishment of EV manufacturing plants in the country.

The Indian government's EV scheme aims to attract global EV manufacturers, promote advanced EV technology adoption, and support the Make in India initiative. It sets a minimum investment threshold of ? 4150 crore (USD 500 million) and encourages significant domestic value addition (DVA) in manufacturing.

Under the policy, manufacturers are required to achieve at least 25% DVA by the third year and 50% by the fifth year of operation. For vehicles valued at USD 35,000 or more, a 15% customs duty will be imposed for five years if manufacturers build facilities in India within three years.

Tesla plans to send a team to scout locations for its manufacturing facility in India. The government is set to invite applications for the EV tariff reduction scheme, allowing eligible companies to import up to 8,000 vehicles annually.

Elon Musk expressed confidence in Tesla's presence in India, intending to visit in 2024 and establish operations "as soon as humanly possible." This signals Tesla's commitment to India's evolving electric mobility landscape.

 
 
 
 

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