Tesla Inching Closer To India Entry, Local Plant Announcement Soon

Tesla is reportedly planning to set up a plant in Gujarat in the near future, which will help the manufacturer gain a foothold in the Indian market American EV maker Tesla is inching closer to Indian shores, with exciting buzz about a potential manufacturing plant in Gujarat, which will be announced during the upcoming Vibrant Gujarat Summit in January 2024. CEO Elon Musk is also expected to make an appearance as well, electrifying the atmosphere with a major India debut. The state of Gujarat boasts a thriving export infrastructure and pro-business policies, perfectly aligning with Tesla’s global ambitions. The rumour mill whispers of a hefty $2 billion investment, but a hurdle stands in the way: India’s high import tariffs. Currently, Tesla steers clear of direct car imports into India due to these sky-high tariffs. To navigate this bumpy road, the company has proposed a smoother pathway – a concessional import duty of 15% for its initial two years in India. But the Indian government, while acknowledging Tesla’s potential to rev up the local auto parts industry (think a $15 billion boost), seems hesitant to grant the requested duty concession. Negotiations are in full swing, with the government reportedly proposing a lower import volume at the concessional rate. Reports suggest that Gujarat officials are confident about this partnership, with supportive policies and eagerness to welcome Tesla. The EV giant, in turn, has showcased its commitment to the Indian market by expressing a willingness to gradually localise production, starting with 20% in the first two years and steadily increasing to 40% by the fourth year. If the Government and Tesla can reach a mutually agreeable duty structure, it could be the green light for popular Tesla models like the Model 3, Model Y, and even a brand-new model to hit Indian roads at competitive prices. Imagine an entry-level Tesla for the same price as the Nexon EV – a tantalising prospect for every EV enthusiast. The Vibrant Gujarat Summit in January could be the defining moment for Tesla’s future in the Indian car market. Will the US automaker’s India chapter finally begin, electrifying the nation’s EV landscape? Or will the ongoing duty drama keep the brakes on progress? Keep tuning in for further updates on the matter and more!
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