Elon Musk says Tesla is 'quite likely' to build a factory in India but only if import taxes are lowered

Tesla is "quite likely" to build an electric-vehicle factory in India, but only if the company's able to import completed vehicles at lower duty rates, CEO Elon Musk said.

"If Tesla is able to succeed with imported vehicles, then a factory in India is quite likely," Musk said on Twitter on Friday. He added: "We want to do so, but import duties are the highest in the world by far of any large country!"

The California electric-vehicle maker has been lobbying Indian government officials to lower those duties, Reutersreported on Friday, citing two unnamed sources.

In a letter, Tesla executives said they were seeking to bring taxes down to about 40% of the vehicle's value, according to Reuters. Current import taxes are between 60% and 100%, depending on the vehicle's value.

Tesla earlier this year registered a local company, Tesla Motors India and Energy Private Limited, raising expectations that the company would launch in the world's second-most populous country.

Local news reports in February said the company would set up its manufacturing plant in Karnataka, a southern state.

the Indian product is also improving and within two years we will get the electric vehicles of Tesla's standard in Indian market. So, in the interest of Tesla, I suggest that they start manufacturing as early as possible," Gadkari said

Musk on Friday said import fees weren't the only issue holding the company back. "Moreover, clean energy vehicles are treated the same as diesel or petrol, which does not seem entirely consistent with the climate goals of India," he said.

Comments

2021 most trending money making site %100 legit

Unique Rewards offers a variety of tasks to earn cash in your spare time. minimum $20 payout, you can request PayPal or a check. Expect to earn $0.50 to $1 per survey Earn extra by playing games, watching vidoes & reading emails PayPal processed every Monday Earn 10% of referral’s earnings You can sign up on the Unique Rewards website. You’ll need to complete a form with your basic information and select the offers of interest to you. You will then receive a confirmation email; once you click the link, you can log into the site and start earning. Unique Rewards is available in the USA, Canada, and UK. Members must be 18 or older Surveys take up to 15 min Unique Rewards will match you with surveys using the profile information and the details you provide during sign up. This ensures that you meet the demographic requirements for each survey panel. You’ll receive $0.50 for completing the initial profile survey and Unique Rewards offers a 10% bonus on all task you complete in your

Tesla has not sold any Bitcoin

Tesla CEO Elon Musk clarified in a tweet early Monday that the electric vehicle maker “has not sold any Bitcoin.” The price of bitcoin saw a partial recovery, trading at $44,680 as of 2:35 a.m. ET Monday, according to data from Coin Metrics. The exchange came just days after Musk said the company planned to hold rather than sell the bitcoin it already has and intended to use it for transactions as soon as mining transitions to more sustainable energy. Tesla did not immediately respond to a request for comment. However, Musk seems to have reversed course in recent weeks in favor of dogcoin the meme-inspired cryptocurrency. Tesla last week also “suspended vehicle purchases using bitcoin,” out of concern over “rapidly increasing use of fossil fuels for bitcoin mining.” The price of bitcoin dropped about 5% in the first minutes after Musk’s announcement. Musk has since been hitting back on Twitter against users who are critical of his cryptocurrency stance. Influential venture investor

What's trend

Search This Blog