After months of lobbying for Tesla to set up shop in India, the country’s government recently announced a new electric vehicle (EV) policy that will support the entry of the American EV maker as well as other interested companies.
Under the new policy, import taxes will be lowered on certain EVs produced by carmakers that commit to invest at least USD500 million (about RM2.35 billion). Additionally, they will also be granted a three-year period to establish local manufacturing facilities for electric vehicles (EVs) and must ensure that at least 25% of the components are procured within India by the third year – this goes up to 50% by the fifth year.
Companies that meet these requirements will be allowed to import up to 8,000 EVs with a minimum cost, insurance, and freight (CIF) value of USD35,000 (about RM165k) or more a year at a lower tax rate of 15%. This is a considerable advantage as taxes on imported cars in India range from 70% to 100% depending on their value.
EV imports at the lower tax rate will be allowed for a maximum of five years. The duty foregone would be limited to the investment made by the company or around USD800 million (about RM3.8 billion), whichever is lower, reports Reuters.
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Desperations to gain market share starting at Bharata after loosing competitive sales against far-east region ev carmakers.
Habeslah Madani Mesia! Dah kalah terok dgn kari!
Kari? Acah lebih belacan bodo ni lol. Q memanjang kat kedai K. Mamak sekadar name je
Anwar say Ini Kalilah!
Modi say Ini Karilah!
Kari > Kali
Worldwide, Tesla still number 1!
Meanwhile PMX is fighting for Palestine and hope that Palestine will bring benefit to our Malaysian economy.
Stronk majority locals 99% sapot behind PMX.
is this sarcasm or your brain has problem? you really dont know or ignorant about palestine-malaysia history? is all people think like you in this country, no wonder racism exist.
it is sarcasm…. what i’m trying to say is that we shouldn’t jaga tepi kain orang when our economy and currency is not strong. people are suffering and it is wiser to channel the energy and resources to improve the life being of our people.
Don’t fight don’t fight. Me sapoting Palestine is a smokescreen to hide my failures & broken promises
I hope I don’t get burnt in this country
Harley got burnt but came back with a local partner, doing well now. Ford is planning a comeback. Suzuki Maruti been doing brilliant from the get go. That’s something to remember.
China offers one way ticket lol
Dah lah tambi, kami dah lama tahu India ni kubur syarikat besar. Dulu Elon bankrupt dia mintak China tolong dan terus jadi orang terkaya di dunia dalam masa setahun je. Jom buka popcorn dan lihat apa akan jadi kpd Tesla lepas masuk India (kubur).
The difference is Tesla beg India to open shop there whereas our country beg Tesla to open shop here .
Really? Show me evidence or better still read the article again
50% local content in the third year ? the only way if a gigafactory was placed there unless that 50% local content is to use the indian made going to be developed ev batteries which are not proven yet. India also carries its political risk, far fetched tax reliefs on EVs, and even worst kronisme managed by only the wealthiest. counting all these aspects various aspects play, only way to survive in india for Tesla is to partner up with Tata or others under the Modi umbrella, profit sharing so to say. You think MALAYSIA is advanced u havent seen India yet or even other countries when it comes to these aspects of policies, many MNCs has moved out so yes it doesnt make sense. Two countries are only in the real play, 1. Thailand and 2. Indonesia (backed by Middle eastern money), Malaysia had missed its chance when the Government fell along with the trust that it had built at an international podium. but its okay, #5minitjeisipetrol until subsidies get removed it would only be 2 minit je !!!
Basically ini semue salah PH
When you read such comments, you understand why Malaysians don’t run any MNCs and Indians run MNCs are worth over $5 trillion.
By the end of the decade Indian economy will be the third largest behind the United States and China.
Lets watch the curse.
When Elon and TESLA was at the brink of bankrupt he asked China to help and within a year he became the richest person on earth.
Now he is the richest man and decided to work with India, lets see what happens.
Everyone knows India is a grave yard for big companies.