Robert Besser
21 May 2023, 11:26 GMT+10
NEW DELHI, India: Tesla officials have told the Indian government that it would like to set up a factory in India to build electric vehicles for the domestic and export markets.
In previous talks held last year, India refused to agree to Tesla's request to lower the import tax on its vehicles, which can reach as much as 100 percent and were described by Tesla CEO Elon Musk as among the highest in the world, and demanded that Tesla build vehicles locally.
During their current talks, Tesla did not discuss lower import taxes with Indian officials, but proposed setting up a new factory, without specifying a location or level of investment.
As global companies are looking to reduce their supply chain dependence on China, manufacturing autos in India is in line with Indian Prime Minister Narendra Modi's efforts to attract companies with his "Make in India" campaign.
Meanwhile, Reuters reported that senior Tesla executives are in India this week to meet the government to discuss local sourcing of parts and other issues.
Tesla has hired a local team and begun a search for showroom space, but these efforts were stopped last year.
The meeting comes weeks before Modi's visit to the US in June.
Get a daily dose of India Gazette news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to India Gazette.
More InformationWASHINGTON D.C.: This week, the U.S. Federal Aviation Administration (FAA) said it implemented a new aircraft certification policy, which requires ...
WASHINGTON D.C.: As businesses built more warehouses and accumulated machinery equipment, the U.S. economy grew faster than initially forecast in ...
WASHINGTON D.C.: This week, the White House said that Senior Biden administration officials met with the makers of respiratory syncytial ...
CHEYENNE, Wyoming: This week, the Biden administration raised US$3.4 million from a sale of oil and gas drilling rights in ...
NEW YORK, New York - U.S. stocks extended their rally on Friday despite remarks by Federal Reserve Chair Jerome Powell ...
MOSCOW, Russia: Russia's trade in oil with India, one of the most lucrative oil trade routes since the imposition of ...
BENTONVILLE, Arkansas: As part of its efforts to reduce reliance on China, cut costs, and diversify its supply chains, Walmart, ...
MOSCOW, Russia: Russia's trade in oil with India, one of the most lucrative oil trade routes since the imposition of ...
NEW DELHI, India: On November 24, the Economic Times (ET) reported that Tesla is ready to invest up to $2 ...
Guntur (Andhra Pradesh) [India], December 3 (ANI): As Andhra Pradesh braces for cyclone 'Michaung', Chief Minister YS Jagan Mohan Reddy ...
New Delhi [India], December 3 (ANI): As the Bharatiya Janata Party (BJP) is on its way to winning the assembly ...
New Delhi [India], December 3 (ANI): With BJP headed for a huge sweep in Madhya Pradesh and getting comfortable victories ...