Tata Motors Urges Govt To Not Lower EV Import Duties To Safeguard Domestic Players

2023-12-08 04:18:09

(MENAFN- KNN India) New Delhi, Dec 8 (KNN) Tata Motors is pushing the central government to not lower import taxes of 100 per cent on electric vehicles (EVs) as the administration is reviewing American giant Tesla's investment plans to enter the market, reported Reuters.

The Indian multinational automaker company has pressed the government officials to protect the domestic industry and its investors.

As India tries to boost domestic manufacturing and EV adoption, Tesla is proposing to set up an Indian factory but is demanding lower import taxes for electric cars.

To solidify the investment deal with Elon Musk-led company, India is formulating a new policy to cut import taxes on EVs to as low as 15 per cent for companies committing to some local manufacturing.

“The policy could allow Tesla to set up its India factory to make its proposed USD 24,000 car, while importing its more expensive models with lower tax,” reported Reuters.

Apart from domestic players, the German government is likely to reach out to the Indian government to express its opinion on the proposed cuts in the import duty on EV.

(KNN Bureau)

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