Tesla recently revealed its plan to open a gigafactory in Mexico to increase global production capacity. It is expected to consider India as another strategic location for its future growth.
Earlier this month, Tesla representatives met representatives of the Indian government for talks. Elon Musk said that India’s import duty is too high. His position is that India is the country with the highest import duty in the world. But there are reports that the government is not interested in reducing the import duty.
Also Read:
In India, import duty is currently 100% on all cars priced above $40,000. 40% import duty is imposed on the import of cars below this amount.
As a solution to this issue, both sides are trying to establish a factory in the border areas of the country. The Indian government believes that Tesla will benefit from the country’s Make in India program
Tesla is currently trying to expand its presence globally. The announcement regarding the new factory is expected to be made by the end of this year. It is estimated that the country’s electric vehicle market and the company will benefit from this.
Read Latest Business News and Malayalam News
