Replying to a put up that mentioned that he might be suspending his go to as a consequence of an upcoming Tesla earnings name, Musk confirmed that he won’t be able to make the journey as scheduled.Nevertheless, he expressed his eagerness to go to India at a later date, indicating that the go to could also be rescheduled for later within the yr.
Musk’s go to to India is extremely anticipated as it’s anticipated to pave the best way for Tesla’s official entry into the Indian market. “Sadly, very heavy Tesla obligations require that the go to to India be delayed, however I do very a lot stay up for visiting later this yr,” he wrote.
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The central authorities just lately launched a brand new Electrical Automobile (EV) coverage that has given rise to speculations of Tesla’s arrival on our shores, albeit with sure situations that have to be met.
Below the newly-introduced coverage, international firms eyeing the Indian EV market should make investments a minimal of Rs 4,150 crore (roughly USD 500 million) to ascertain electrical car manufacturing vegetation inside the nation. There isn’t a ceiling on the quantity they’ll make investments, providing flexibility for firms to scale their operations in keeping with their methods.
These firms are granted a timeline of three years to start operations and start manufacturing electrical automobiles inside India’s borders. Moreover, inside 5 years of operation, a requirement stipulates that a minimum of 50 p.c of the elements used of their automobiles have to be regionally produced. By the third yr of operation, this share needs to be at 25 p.c. However, if Tesla, or every other international EV maker meets these situations, they are going to be allowed to import a restricted variety of EVs at a decrease tax fee of simply 15 p.c.
