How has India modified import duties to attract Tesla for EVs
India has reduced import duty on electric vehicles from 70-100% to 15% to allure Tesla.
- India has reduced import duty on electric vehicles from 70-100% to 15% to attract Tesla to the Indian market.
- This significant reduction in import duties makes it more financially feasible for Tesla to import and sell their electric vehicles in India.
- The lower import duty helps in making electric vehicles more affordable for Indian consumers, thus encouraging the adoption of electric vehicles in the country.
- By reducing barriers to entry such as high import duties, India aims to attract more investments in the electric vehicle sector and promote sustainable mobility.
- This move aligns with India's goal to increase the share of electric vehicles on its roads and reduce carbon emissions, contributing to a cleaner environment.
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a year ago