Over the next five years, the PLI scheme for the automotive and auto parts industries is estimated to lead to over 42,500 chlores of new investment.
India’s Heavy Industry Minister Mahendra Nath Pandey hopes that the recently launched PLI scheme for the automotive sector will attract US-based Tesla and establish a manufacturing center in India.
“Tesla will definitely be attracted to this plan … I have hope,” Pandy was quoted by PTI.
Note here that Tesla has already demanded tax cuts related to the immortality of domestic electric vehicles. Tesla’s Elon Musk has demanded that the Indian government correct the tax amount from 100% to 40%.
Previous reports have shown that Tesla’s call to reduce import taxes on electric vehicles has been endorsed by various government agencies. These included things like the Ministry of Road Transport, NITI Ayog, and the sector for promoting industry and domestic trade.
The Indian Automobile Manufacturers Association (SIAM) has previously explained how concessions can only be useful to the ultra-rich. SIAM also said that the economically vulnerable part of society has already paid 28% tax on the purchase of nominally priced motorcycles. Currently, the country imposes a 110% tariff on imports of electric vehicles priced at $ 40,000.
“We want to do that (launching cars in India), but import taxes are by far the highest in the world than any other power, and even though clean energy cars are treated the same as diesel and gasoline. , This does not seem to be in perfect agreement with India’s climate goals, “read one of Musk’s tweets.
Over a five-year period, the PLI scheme for the automotive and auto parts industries is estimated to lead to over 42,500 chlores of new investment, 2.3 lac chlores or more incremental production, and create additional employment opportunities for 7.5 racks or more of employment. I am. ..
https://www.electronicsb2b.com/headlines/tesla-will-definitely-be-attracted-to-pli-scheme-heavy-industries-minister/ Tesla will definitely be attracted to the PLI scheme: Minister of Heavy Industry