Recent reports suggest that Tesla executives are planning a visit to India. This could be a sign of renewed interest in the Indian market after Tesla previously shelved plans to import cars due to high import duties.
News sources indicate that the executives might be exploring options for local sourcing of components. This suggests a potential shift in strategy, with Tesla aiming to comply with government regulations and potentially set up a manufacturing plant in India.
Tesla previously faced resistance due to high import duties on electric vehicles (EVs) exceeding $40,000 CIF (cost, insurance, and freight). The company had requested a reduction in these duties to make its cars more affordable for the Indian market.
The Indian government is actively promoting electric vehicles with initiatives like subsidies and tax breaks. The EV market in India is expected to experience significant growth in the coming years, making it an attractive proposition for Tesla.
Several domestic and international manufacturers are already making inroads into the Indian EV market. Tesla might be looking to establish a presence before the market gets saturated.
The success of its endeavors will depend on factors like government policies, import duties, and the company's ability to establish a robust charging infrastructure.