• InduQin

India promises Tesla ‘lowest production costs’ but will that persuade Elon Musk to leave China?

India is ready to offer incentives to ensure Tesla’s cost of production would be less than in China if the carmaker commits to making its electric vehicles in the south Asian country, transport minister Nitin Gadkari said.

Gadkari’s pitch came weeks after billionaire Elon Musk’s Tesla registered a company in India in a step towards entering the country, possibly as soon as mid-2021. Sources familiar with the matter have said Tesla plans to start by importing and selling its Model 3 electric sedan in India.

“Rather than assembling [the cars] in India they should make the entire product in the country by hiring local vendors. Then we can give higher concessions,” Gadkari said in an interview, without giving details of what incentives would be on offer.

Read More at https://www.scmp.com/news/asia/south-asia/article/3123802/india-promises-tesla-lowest-production-costs-will-persuade

1 view0 comments