Key Points
Indias industry secretary said the ball is now in Tesla Inc.s court to lay down its investment plans for the South Asian nation after the government cut import duty on electric vehicles...
Following that move, its up to Elon Musks carmaker to make the announcements of their manufacturing plans, Rajesh Kumar Singh, secretary of department for promotion of industry and internal trade, told Bloomberg in an interview on Thursday...
Tesla is planning to send a team of people to scout for locations in India this month for a proposed $2 billion to $3 billion electric car plant, the Financial Times reported earlier this week, citing people familiar with the matter that it didnt identify..
Musks carmaker has for years been been making a case for cutting import taxes before it commits to any significant investment in one of the worlds biggest automobile markets...
To get tax concessions, companies will have to invest at least 41.5 billion rupees ($500 million) and start producing EVs from a local plant within three years, Indias government said in March...
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