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Making Tesla cars in India will be the best investment: Poonawalla aims for Elon Musk

Photos of SII CEO Adar Poonawalla (L) and Tesla CEO Elon Musk (R)

Adar Poonawalla tries to persuade Tesla CEO Elon Musk to invest in India to make electric cars.

Through : HT Autodesk

Updated on:
08 May 2022, 16:07

Photos of SII CEO Adar Poonawalla (L) and Tesla CEO Elon Musk (R)

While Tesla registered its Indian branch in Bengaluru more than a year ago, the wait for the arrival of its electric cars in India is still ongoing. The government has encouraged the electric vehicle giant to set up local production in the country and now Serum Institute of India’s (SII) CEO Adar Poonawalla is trying to persuade Tesla CEO Elon Musk to invest in India to produce Tesla electric cars. . the best investment he would have ever made.

Musk has asked India in the past to cut tariffs on selling Tesla electric cars, but the government has pushed for local production. In his Twitter post, tagging Musk, Poonawalla said: “…in case you don’t end up buying @Twitter, look into investing some of that capital in INDIA for large scale production of @Tesla cars. of high quality .” He added: “I assure you this is the best investment you will ever make.”

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Last month, Union Road Transport and Highways Minister Nitin Gadkari had said that if Tesla was ready to manufacture its electric vehicles in India, there would be “no problem,” but the company will not be allowed to import cars from China. In August last year, Musk had said the electric vehicle maker Tesla could set up its manufacturing facility in India if it first succeeds with imported vehicles into the country.

He had added that while Tesla wanted to launch its vehicles in India, the country’s import duties are “by far the highest in the world of any major country.” Currently 100 percent duty is charged here on fully imported cars with CIF (Cost, Insurance and Freight) value over $40,000 and 60 percent on those that cost less than the amount. Tesla had asked for a standardization of the tariff on electric cars to 40 percent regardless of customs value.

(with input of PTI)

Date of first publication: 08 May 2022, 16:06 IST