A Tesla charging station in Florida. File/Associated Press
India is ready to offer incentives to ensure Tesla’s cost of production would be less than in China if the carmaker commits to making its electric vehicles in the south Asian country, transport minister Nitin Gadkari told Reuters.
Gadkari’s pitch comes weeks after billionaire Elon Musk’s Tesla registered a company in India in a step towards entering the country, possibly as soon as mid-2021. Sources familiar with the matter have said Tesla plans to start by importing and selling its Model 3 electric sedan in India.
“Rather than assembling (the cars) in India they should make the entire product in the country by hiring local vendors.
Then we can give higher concessions,” Gadkari said in an interview, without giving details of what incentives would be on offer.
“The government will make sure the production cost for Tesla will be the lowest when compared with the world, even China, when they start manufacturing their cars in India. We will assure that,” he said.
India wants to boost local manufacturing of electric vehicles (EVs), batteries and other components to cut costly imports and curb pollution in its major cities.
This comes amid a global race by carmakers to jump-start EV production as countries work towards cutting carbon emissions. But India faces a big challenge to win a production commitment from Tesla, which did not immediately respond to an email requesting comment about its plans in the country.
India’s fledgling EV market accounted for just 5,000 out of a total 2.4 million cars sold in the country last year as negligible charging infrastructure and the high cost of EVs deterred buyers.
In contrast, China, where Tesla already makes cars, sold 1.25 million new energy passenger vehicles, including EVs, in 2020 out of total sales of 20 million, and accounted for more than a third of Tesla’s global sales.
Tesla has written to Indian ministries seeking a big reduction in import duties on electric vehicles (EVs), a move it says will boost demand and generate revenue for the government, two sources with knowledge of the matter said.
The announcement marks an important step in the acceptance of cryptocurrencies use in commerce.
Tesla customers can now buy its electric vehicles with, its chief, Elon Musk, said on Thursday, marking a significant step forward for the cryptocurrency’s use in commerce.
The SpaceX CEO aired his opinions on aliens and UFOs in a discussion, saying ‘I wouldn’t be surprised if out there in our galaxy and others that there are a whole bunch of dead civilisations … that prospered for a while but then gradually their civilisations collapsed.’
The Abu Dhabi Chamber of Commerce and Industry (ADCCI) launched its new 3-year strategy on Thursday spanning from 2023 to 2025, which centres on serving the Abu Dhabi Economy
Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has announced the launch of four business groups within the construction sector namely,
Adnoc, a reliable and responsible provider of lower-carbon intensity energy, on Thursday announced that it has signed agreements with 23 UAE and international companies