India to draft new policy, which may include import tax cut, in push for Tesla-led EV investment

India will come up with a new policy to attract electric vehicle (EV) manufacturers and encourage greater investment in the sector, the commerce minister said on Wednesday (September 13, 2023).

Piyush Goyal's comments come as U.S. EV maker Tesla continues talks with Narendra Modi's administration on the possibility of building a factory in India.

Reuters last month reported that India was working on EV policy that would cut import taxes for automakers that committed to some local manufacturing, citing sources with direct knowledge of the matter.

Asked about the government's plans, Goyal said consultation on the new policy will be held with the industry.

Tesla's senior executives with an interest in building a factory in India met Goyal in August.

Tesla plans to produce a low-cost EV priced at $24,000 - about 25% cheaper than its existing entry-level model - for both the Indian market and export.

Goyal said on Tuesday that Tesla aims to source components worth between $1.7 billion and $1.9 billion from India this year, having bought $1 billion of components last year.

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[sammygit]

And that's how you get scammed. It is known as the grave yard for FDIs for a reason

[KMuse]

Come and do business in India then they'll freeze your assets.

[taiwanstillisntacountry]

LMAO
Car sell PRC 2022 : 26m
USA, aka IOU-country : 17m
The British-Raj : 5m
Glory-to-the-British-Raj

[hpw-wsbj]

Tesla please do china a favor and goto India. National security is at stake. Good luck making batteries in india or anything at all. 😂😂😂

[leecheong]

All the best Elon! China’s BYD and Great Wall are lucky to get barred from going into India. Many MNCs learn their lesson. It’s good that Tesla goes into India. This will set Tesla back a decade. Unfortunately Elon is not stupid and fall for Modi’s twisting forked tongue. Seriously, I hope Tesla go into India like iPhone.

[City-of-Hong-Kong]

Quote .... This is a government that provides equal opportunity to everybody. .... .This is such a big lie, Chinese EV brands weren't allowed to put up a factory in India.

[City-of-Hong-Kong]

So when BYD and Great Wall Motors was investing a billion dollar in EV Infrastructure, India had problem with it and they kicked them out. How does WTO allows this? Isn't this against trade laws.

[omanhamad]

China has vast rare earth minerals and good infrastructure unlike India.

[cuteandfunnyearthlings]

Will tesla take advantage of india's 1.4 billion market like tesla in china where chinese buys tesla's so can indians afford to buy teslas?

[lutztech]

Tesla vehicles dont even come close to being as good as BYD.

[sjsrana]

Finnally arrogant india realised it's arrogance of high taxation on foreign companies in India - sjsrana

[wtfisthisp]

You know as well as i know electric batteries have a factory flaw and always catch 🔥 oh im so tired of the cons

[jaihindersingh]

Woow, dhis teesla vershun wiil be as guud kwalitee as Amerikkan maed teesla. Suerli bettur kwalitee dhan cpp maed