Elon Musk is reportedly seeking tariff concessions from the Indian government, led by Prime Minister Narendra Modi, to facilitate Tesla's market entry. This move comes as former U.S. President Donald Trump warns of potential reciprocal tariffs if India doesn't reduce its tariffs on American products. In 2021, India's customs duties on cars ranged from 60% to 100%, depending on engine size and cost, insurance, and freight (CIF) value.
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Tesla had previously halted plans to enter India due to high import duties. Musk's renewed interest involves potentially building a factory in India to produce affordable electric vehicles. Discussions with the Indian government are ongoing, focusing on reducing import duties as an initial step.
Trump's recent statements add a layer of complexity to the situation. He specifically mentioned tariffs on motorcycles, hinting at potential trade disputes if the U.S.'s concerns aren't addressed. The outcome of these negotiations could significantly impact Tesla's global expansion strategy and India's electric vehicle market.
Source: outlookbusiness
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