Key Points
In a significant move, the Indian government is reportedly contemplating a new electric vehicle (EV) policy aimed at reducing import taxes for car companies, opening the doors for high-end EV manufacturers like Tesla Inc. to enter the burgeoning Indian market..
Under this proposed policy, carmakers committing to local manufacturing could benefit from a substantial tax cut..
Presently, cars with a price tag above $40,000 (INR 33.29 lakh) face a hefty 100% import tax..
Tesla, the American electric car giant, is gearing up to make its mark in India, and this potential tax reduction could serve as an ideal opportunity for the company to test-market its products in the country..
With the prospect of high-end EVs like Tesla's being available at a lower price due to reduced import taxes, local manufacturers might face increased competition..
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