{"id":88674,"date":"2023-11-25T10:42:17","date_gmt":"2023-11-25T15:42:17","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/tesla-ready-to-invest-up-to-2-billion-to-build-india-factory-but-with-riders-et\/"},"modified":"2023-11-25T10:42:20","modified_gmt":"2023-11-25T15:42:20","slug":"tesla-ready-to-invest-up-to-2-billion-to-build-india-factory-but-with-riders-et","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=88674","title":{"rendered":"Tesla ready to invest up to $2 billion to build India factory, but with riders -ET"},"content":{"rendered":"
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\u00a9 Reuters. Tesla logo is seen on the steering wheel of an electric vehicle at a dealership in Durango, northern Spain, October 30, 2023. REUTERS\/Vincent West\/File Photo<\/span>
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BENGALURU (Reuters) – Tesla (NASDAQ:) is ready to invest up to $2 billion to set up a factory in India if the government cuts import duty\u00a0on its vehicles to\u00a015% for the first two years of operations, the Economic Times reported on Friday.<\/p>\n

Reuters reported in August that India is working on a new EV policy to slash import taxes to as low as 15% – compared to the current 100% on cars priced above $40,000 and 70% for the rest – in exchange for a commitment to some local manufacturing.<\/p>\n

The Elon Musk-led electric vehicle (EV) maker is willing to invest up to $500 million if the government approves the reduced duty for 12,000 vehicles and up to $2 billion if the concession is for 30,000 vehicles, the ET report said, citing unnamed sources.<\/p>\n

The government is examining the viability of Tesla’s proposal to invest $2 billion but wants to reduce the number of cars imported on a lower duty, compared to Tesla’s proposal, the Economic Times said.<\/p>\n

Tesla, the department for promotion of industry and internal trade, ministry of heavy industries, ministry of road transport & highways and the ministry of finance did not immediately respond to Reuters’ requests for comment. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Tesla logo is seen on the steering wheel of an electric vehicle at a dealership in Durango, northern Spain, October 30, 2023. REUTERS\/Vincent West\/File Photo BENGALURU (Reuters) – Tesla (NASDAQ:) is ready to invest up to $2 billion to set up a factory in India if the government cuts import duty\u00a0on its vehicles […]<\/p>\n","protected":false},"author":1,"featured_media":72825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-88674","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nTesla ready to invest up to $2 billion to build India factory, but with riders -ET | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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