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The federal government has officially said that it is not contemplating any proposal to offer subsidies or exemptions for the import of electric vehicles into the nation, dealing a severe blow to Elon Musk's aspirations to establish Tesla's presence in the Indian market.
Indian Government Has No Plans to Provide Exemptions or Subsidies for EV Imports
Som Parkash, Minister of State for Commerce and Industry, said in a written response to a query on whether the government had any plans to exclude Tesla or any other foreign automaker from local value addition, according to Live Mint.
Parkash's response comes at a time when multiple media sources have suggested that Musk's Tesla and the Indian government were on the same page about granting tax incentives to electric vehicle manufacturers in exchange for committing to manufacturing in India.
Tesla and the Indian government had already been at odds for a year, according to Bloomberg. The electric vehicle manufacturer desired lower taxes in order to sell cars built overseas at competitive costs in India initially, while the Modi administration desired Tesla to begin producing cars domestically.
Tesla's Plans for Local Manufacturing Hinge on Import Duty Concessions
Following a meeting with Prime Minister Narendra Modi in June of this year, Musk stated that the Prime Minister pushed Tesla to make "significant investments" in India, which he intended to do. "I am confident that Tesla will be in India and will do so as soon as humanly possible," Musk furthered.
According to a recent Economic Times report, Tesla is prepared to set up a plant in India to manufacture electric cars only provided the government authorizes a 15% concessional levy on imported automobiles for the first two years of operations in India.
According to insiders, Tesla has addressed the Government of India about the investment the firm plans to make and the number of cars it may import at a cheaper tariff.
Photo: Alexander Shatov/Unsplash
