The information suggests that Tesla, seeking a new comeback, is preparing to enter the Indian market. It is said that the low tax policy implemented by the government for electric vehicle manufacturers played a significant role in this decision. The most important condition imposed for this is to establish a production facility in the country exceeding 500 million dollars within 3 years.
This development, which immediately spurred Tesla’s management into action, seems to accelerate the company’s entry into the South Asian market. It’s been known for a long time that Elon Musk, CEO of Tesla, has been eager about this issue. Here are the key details…
Will Tesla open up to the Indian market?
Another demand from Indian electric car manufacturers was to source 25% of the production locally. It is said that Tesla’s management, who believes they can easily meet these requirements, has already started to explore the region.
It is also said that Musk, who has been in communication with the Indian government for years, may organize a special visit to the country. Some investment experts claim that if this initiative is successful, the company’s stock value will increase significantly.
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The biggest reason for the Indian government to implement such a significant tax reduction is to reduce the imported petroleum. The government aims to have 30% of all vehicles sold in the country be electric by 2030 and may undertake other initiatives in this regard. Additionally, in a country with a massive population, gasoline-powered vehicles are often complained about for polluting the environment more than electric ones.
What do you think about this issue? Do you think India’s strategy of implementing electric vehicles is correct? Will Tesla succeed in this venture? You can easily share your opinions with us in the comments section below. Your opinions are very valuable to us.
