India Cuts EV Import Taxes: Will Elon Musk's Tesla cash in? | Vantage with Palki Sharma

In a strategic move to attract significant investment in the electric vehicle (EV) sector, India announced on Friday a reduction in import taxes for electric vehicles. The concession is contingent on companies committing to a minimum of $500 million in local investment and manufacturing within three years. This decision marks a pivotal moment for Tesla, which has been eyeing the Indian market for a while. Elon Musk, Tesla's CEO, has previously highlighted India's import taxes, as a major barrier to Tesla's entry into the Indian market.

Despite Elon Musk's attempts to penetrate the Indian market, New Delhi's stance remained firm on requiring local manufacturing commitments. India's EV market, though currently modest, is on an upward trajectory, with domestic giant Tata Motors leading sales. Electric models accounted for approximately 2% of India's total car sales in 2023, with ambitions to reach 30% by 2030. Palki Sharma tells you more.

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India | Electronic Vehicles | Tesla | Elon Musk | Investment | Firstpost | World News | Vantage | Palki Sharma

#india #electronicvehicle #tesla #elonmusk #investment #firstpost #vantageonfirstpost #palkisharma #worldnews


Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.

Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
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