Tesla Seeks Relief On Import Duties From Indian Govt

Tesla Seeks Relief On Import Duties From Indian Govt

The US-based electric car major Tesla is in discussion with Indian government seeking relief on import duties till a local factory is built here, according to the company’s Chief Executive Elon Musk.

Earlier this year, Musk had stated that he was hoping for Tesla to enter India this summer with its products, which has so far not materialised.

“In discussion with the government of India requesting temporary relief on import penalties/restrictions until a local factory is built,” Musk said in a tweet.

At present, India imposes 60 percent customs duty on import of completely-built electric cars priced less than $40,000 (roughly Rs. 25.8 lakhs). If the electric car is assembled in India, the customs duty on the completely knocked down units is 10 percent. Read more

Credits:www.asianage.com

Leave a Reply

Your email address will not be published.