Tesla could announce roadmap to come to India by the end of this year
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Tesla has expressed its desire to make India its manufacturing hub and it is believed that the company may reveal its plans for India by the end of this year or early next year. The government is also planning to hold consultations with all the stakeholders in this matter. According to sources, work is also going on on a policy framework in this regard. This framework will be applicable to all companies that have shown interest in manufacturing electric vehicles in the country. This development assumes significance as the Phase 3 of the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme is in the pipeline.
Preparation to make export hub
Tesla has also shown interest in increasing its procurement activities in India. Right now the company has joined hands with five-six big companies in India and components worth about $1.5 billion are being procured from the Indian market. Tesla wants to make such a car in India which will cost 20 to 30 lakh rupees. It is believed that Tesla is also exploring possibilities of forming joint ventures with Indian companies so that Chinese suppliers can be brought to India. Tesla has a strong presence in China but wants to use India as an export base. The company is preparing to export its cars from India to the Indo-Pacific region.
Musk’s company had demanded a reduction in import duty on electric vehicles in India by 2021. Tesla wanted to sell its cars in India. For this, he had demanded a reduction in the import duty of the government. Currently, cars imported as completely built units attract customs duty of 60 to 100 per cent depending on the engine size and cost, insurance and freight value. Tesla wanted it to be reduced to 40 percent on electric cars. The company first wanted to fathom the Indian market by selling imported cars in India. But the government did not accept it.
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