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Tesla has invested up to $2 billion to build a factory in India, provided that tariffs on 30, 000 cars are reduced.

2024-04-23 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

CTOnews.com, Nov. 25, according to the Economic Times, if the Indian government cuts import tariffs on its cars in the first two years of operation to 15%, Tesla will invest up to US $2 billion (CTOnews.com Note: currently about 14.3 billion yuan) to build a factory in India.

India is working on a new electric car policy to cut import taxes to as low as 15 per cent, compared with 100 per cent for cars priced above $40000 and 70 per cent for the rest, Reuters reported in August.

Indian media ET reported citing unnamed sources that Tesla is willing to invest up to $500m if the government approves a tariff reduction on 12000 vehicles and up to $2 billion if it approves a tariff reduction on 30000 vehicles.

The government is reviewing the feasibility of Tesla's proposal to invest 2 billion US dollars, but hopes Tesla will reduce the number of cars imported at lower tariffs, the Economic Times said.

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