Hyperdrive
Tesla Seeks Lower Taxes on Sale of Imported EVs in India
- Company wants taxes to be reduced to 40% on import of cars
- India is one of the world’s biggest emerging car markets
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Tesla Inc. has sought lower taxes on import of electric vehicles in India, people with the knowledge of the matter said, as it looks to commence operations in Asia’s third-largest economy.
The California-based maker of electric vehicles has written to the transport and industry ministries for reducing import duty on electric cars to 40% from the current range of 60%-100% for vehicles depending on their import value, the people said, declining to be identified as the matter is not public. Earlier, Reuters reported that Tesla has pitched to Indian ministries to reduce federal taxes on imports of fully assembled electric cars.