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India Pondering EV Tariff Cuts to Tempt Tesla – FT

Elon Musk has reportedly demanded the concession in return for building a new production plant in a car market dominated by low-cost vehicles

Tesla symbol is seen in a rear-view mirror.
The Tesla symbol is seen in a rear-view mirror. Photo: Reuters


India is considering slashing its electric vehicle tariffs following a lobbying campaign by US EV giant Tesla, the Financial Times reported, with Elon Musk’s firm talking about setting up a factory in the country.

Sources claim Tesla has requested the tariffs concession as a precondition to building the plant, the report went on, and the new developments follow three separate meetings between Tesla chiefs and Indian government officials this year.

A bet on India could bring risks for Tesla, the story added, with India’s EV market only in its early stages of development with any new entrant having to competitively price their vehicles to make an impression in the world’s largest developing market.

Read the full story: The Financial Times


  • By Sean O’Meara


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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


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