Tesla seeks reduction in import duties on electric vehicles in India
PTI, Jul 24, 2021, 11:23 AM IST
US-based electric car major Tesla has demanded a reduction in import duties on electric vehicles (EVs) in India, a senior government official said on Friday.
At present, cars imported as completely built units (CBUs) attract customs duty ranging from 60 per cent to 100 per cent, depending on engine size and cost, insurance and freight (CIF) value less or above USD 40,000.
“Actually it’s a revenue matter. But yes, their demand for lower tariffs is in the public domain,” the official said on the condition of anonymity.
Recently, Union Minister Nitin Gadkari had said Tesla has a golden opportunity to set up its manufacturing facility in India given the country’s thrust on e-vehicles.
Tesla is already sourcing various auto components from Indian automakers and setting up base here would be economically viable for it, the road transport and highways minister had said.
Gadkari had also exuded confidence that given the improvement in Indian products, within two years India would be capable of producing e-vehicles of Tesla’s standard.
He had also said Tesla can make industrial clusters and create and develop its own vendors here.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Unilever is cutting 7,500 jobs and spinning off its ice cream business
PHF Leasing Limited announces hiring of over 200 people over the next two quarters
Patanjali advertising case: SC asks Ramdev, Balkrishna to appear before it
Markets surrender early gains to trade lower
US Fed interest rate decision key event to watch out for this week: Analysts
MUST WATCH
Latest Additions
WPL title is one thing but what Kohli has achieved for India is remarkable: Mandhana
Unsure of poll victory, BJP trying to ‘steal’ a Thackeray: Uddhav on MNS chief-Amit Shah meeting
Uddhav Thackeray dares BJP to disclose details of funds received through electoral bonds
Unilever is cutting 7,500 jobs and spinning off its ice cream business
Audi to drive in over 20 new models by 2025-end: CEO Gernot Dollner