Team Blitz India
NEW DELHI: The EV Major Tesla is all set to double its imports from India, said Commerce and Industry Minister Piyush Goyal after his recent visit to the Tesla electric vehicle (EV) manufacturing facility in the US. Goyal was in the US on a four-day visit to attend the third in-person Indo-Pacific Economic Framework (IPEF) meeting and engagements of the Asia-Pacific Economic Cooperation. He met with US Trade Representative Katherine Tai to discuss boosting trade ties.
“Visited Tesla’s state-ofthe art manufacturing facility in Fremont, California. Extremely delighted to see talented Indian engineers and finance professionals working at senior positions and contributing to Tesla’s remarkable journey to transform mobility,” the minister posted on X (Twitter), a social media platform also owned by Tesla’s founder, Elon Musk.
Goyal suggested that the demand for EVs will further increase and translate into more imports from India to spur the sector’s growth.
While the government had earlier denied having a separate incentive for Tesla and suggested that the company could apply for measures under the existing Production Linked Incentive (PLI) scheme for auto and advanced chemistry cells – the narrative has changed. The Indian Government is now considering customs concessions.
Elon Musk met Prime Minister Narendra Modi in June in New York and said that he planned to visit India in 2024. In August 2021, Musk said Tesla might set up a manufacturing unit in India if it succeeded in importing its vehicles into the country. India imposes 100% import duty on fully imported cars with a CIF (Cost, Insurance and Freight) value greater than $40,000 and 70% on those costing less than the amount.