According to the Economic Times, Tesla will invest up to US$2 billion if the Indian government cuts the import tariff on its cars to 15% in the first two years of operation (Note: Currently approximately 14.3 billion RMB) to build a factory in India.
Reuters reported in August that India was formulating a new electric vehicle policy that would slash import taxes to as low as 15%, compared with the current 100% import tax on cars costing more than $40,000 and 70% on the rest. .
Indian media outlet ET reported, citing unnamed sources, that Tesla is willing to invest up to $500 million if the government approves tariff reductions on 12,000 vehicles, and up to $2 billion if tariff reductions on 30,000 vehicles are approved.
