The Financial Times reported that Tesla plans to send a team to India this month to inspect proposed projects worth US$2 billion to US$3 billion (Note: currently about 145 ~ 21.75 billion RMB) electric vehicle factory location.
Last month, it was reported that India’s new import tariff policy for foreign electric vehicle manufacturers is being finalized to encourage relevant manufacturers to invest in the Indian market. The tariff incentives may last for 2 to 3 years.
Although India claims that the reduction of import tariffs is not just for Tesla, but for all manufacturers, and Tesla will not receive special treatment, judging from previous reports by foreign media, they are mainly to attract Tesla investment, and Tesla also hopes that India can reduce import tariffs on electric vehicles.
In previous reports, foreign media mentioned that India expects Tesla to invest in building a factory. Tesla also intends to invest US$2 billion to build a factory in India. There is also news that they also plan to purchase US$15 billion in parts from India. and possibly producing batteries locally.
However, foreign media also mentioned that before investing in and building a factory in India, Tesla hoped to test its demand in the Indian market by importing electric vehicles. However, it faced high tariffs through import testing demand.
India currently has relatively high tariffs on imported cars. The tariff rate is 60% for cars priced below $40,000, and 100% for cars priced above $40,000. Tesla proposed lowering it to 40%, but the two sides have not reached an agreement before. .
