Elon Musk Says Want to Launch Tesla in India, But Import Duties in Country are 'Highest in The World By Far'

New Delhi, July 25: Tesla CEO Elon Musk stated that its electrical automobile (EV) firm desires to launch automobiles in India, however the nation's import duties on EVs are "highest in the world by far". Replying to an Indian YouTuber on Twitter, who requested him to launch Tesla automobiles ASAP in India, Musk blamed excessive import charges in the nation. "We want to do so, but import duties are the highest in the world by far of any large country!" he wrote. Tesla To Resume Taking Bitcoin Payment, Says Elon Musk.

"Moreover, clean energy vehicles are treated the same as diesel or petrol, which does not seem entirely consistent with the climate goals of India," he added. Last 12 months, a report stated that India has taken a slew of measures to promote using electrical automobiles in the nation. Tesla CEO Elon Musk Expects at Least 'Temporary Relief' For Electric Vehicles in India in Terms of Import Duty Relaxation.

The authorities slashed Goods and Services Tax (GST) on electrical automobiles to 5 per cent from earlier 12 per cent however to shield home automakers, it levies 125 per cent obligation on imported automobiles. "I'm told import duties are extremely high (up to 100 per cent), even for electric cars. This would make our cars unaffordable," Musk earlier stated whereas responding to a tweet from an Indian follower.

Close on the heels of Union Budget offering tax aid for purchasing electrical automobiles, the GST Council in its assembly final 12 months in July minimize the tax on electrical automobiles (EV) from 12 per cent to 5 per cent, efficient August 1, 2019. The twin price cuts are set to additional enhance the EV sector. The Budget, final 12 months, had proposed an Income Tax deduction of Rs 1.5 lakh on the curiosity paid on the loans taken to buy electrical automobiles.

(The above story first appeared on SociallyKeeda on Jul 25, 2021 09:37 PM IST. For extra information and updates on politics, world, sports activities, leisure and way of life, go surfing to our web site latestly.com).