TESLA IMPORTS
Tesla unlikely to move forward with India investment, Musk's execs cease contact: Report
Tesla Inc. is unlikely to pursue new investments in India in the near future, sources familiar with the matter said. Following Elon Musk's postponed visit and lack of further communication, Indian officials believe Tesla faces financial constraints. India now focuses on local automakers like Tata Motors and Mahindra & Mahindra to boost its nascent EV market.
Musk Black: The colour maketh the man
Musk Black not only visually matches Meskla’s self-positioning as a Blade Runner-style aristotechnocrat to a T, but also performs another important function: it situates him away from the nerd herd. Even Thursday’s AGM backdrop underlined this distancing from Valley aesthetics. The ‘cyber rodeo’ neon-lit backdrop was a far cry from Google-Meta-Microsoft’s pristine, antiseptic whiteboard venues that are more Ikea than gritty Big Tech.
Canada considers imposing import tariffs on Chinese EVs
Canada is considering imposing import tariffs on Chinese-made electric vehicles (EVs). Deputy Prime Minister Chrystia Freeland stated on Monday that the government will seek the public's opinion on the matter starting July 2.
Explained: What happens next in the EU investigation into Chinese EVs?
China and the European Commission plan talks to address proposed tariffs on Chinese-made electric vehicles entering the EU, potentially easing tensions. The EU intends to impose provisional duties on these vehicles, ranging from 17.4% to 38.1%, with the deadline set for July 4. Negotiations between the EU and China are expected, with stakeholders having until July 18 to provide feedback. The Commission will publish its findings by July 4, and decisions on provisional duties will follow.
What happens next in the EU investigation into Chinese EVs?
The European Commission plans to impose provisional duties on electric vehicles (EVs) from China, ranging from 17.4% to 38.1%, in addition to the existing 10% tariff. These duties are set to take effect by July 4 as part of an anti-subsidy investigation to protect EU industry. Following publication of findings on July 4, interested parties have until July 18 to comment before final duties are determined.
Diversion ahead? For Chinese EVs, the road may fork out to India
The European Union's decision to hike tariffs on cheap electric vehicles made by Chinese companies has sparked concerns about unfair competition and the impact on the global auto sector. The move could lead to a reshuffling of the market dynamics, with potential consequences for both Chinese and European automakers.
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Elon Musk's friends and fans applaud shareholder vote on his payday
For months, Musk's supporters have used the social media site, which he purchased for $44 billion in 2022, to drum up support for his massive payday, and Tesla board members warned he could leave the company if shareholders voted against him.
Tesla expects to hike price of China-made cars in EU due to tariffs
Tesla plans to raise the price of its Model 3 due to E.U. import duties on Chinese-made cars, without specifying the increase. It urged customers in select European countries to order by June as the new pricing will take effect on July 1, 2024. The E.U. will impose up to 38.1% extra duties on Chinese electric cars in July, potentially sparking retaliation from Beijing to protect its interests.
Elon Musk says Tesla shareholders approved his $56 billion pay package
Tesla shareholders are voting to approve a $56 billion pay package for Elon Musk and to move the electric vehicle maker's legal home to Texas, Musk said on social media platform X on Wednesday, adding that passage was by wide margins. A yes vote gives the electric carmaker more ammunition in a Delaware court, where a judge voided the 2018 pay package plan.
Tesla seeks from EU lower tariffs on EVs shipped in from China: Report
Electric vehicle maker Tesla has asked the European Union to subject its cars to a lower tariff than other manufacturers shipping into the bloc from China, Bloomberg reported.
PM Modi responds to Elon Musk's congratulatory message, says India's stable policies continue to facilitate business environment
Prime Minister Narendra Modi expressed gratitude to Elon Musk, CEO of Tesla and SpaceX, for congratulating him on his electoral victory in the 2024 Lok Sabha elections. Modi responded to Musk's post on the social media platform X, emphasizing India's talented youth, demographic advantage, stable democratic system, and predictable policies, which create a conducive business environment. Musk had congratulated Modi on his victory and expressed anticipation for his companies to engage in exciting work in India.
Tesla coming to India? Elon Musk drops major hint
Elon Musk congratulates Narendra Modi on his re-election. BJP and allies win 240 seats in the 2024 Lok Sabha elections. Oath ceremony on June 09, 2024 at Rashtrapati Bhavan.
Govt to hold 2nd meet with stakeholders to issue draft guidelines for new EV policy
The Ministry of Heavy Industries is drafting guidelines for the new electric vehicle policy to attract global automakers like Tesla. Automakers, including Vietnam's Vinfast, must invest as per the new norms to avail incentives under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) approved on March 15, 2024.
Investments made in creating plant and machinery to qualify for sops under new EV policy
SMEC is aimed at incentivising investments in setting up electric vehicle (EV) manufacturing capacity by lowering import duties on a select number of cars. Under the new EV policy, announced in March 2024, beneficiaries need to invest $ 500 million for setting up electric car manufacturing facilities. They also need to comply with up to 50% minimum domestic value addition commitment.
Tesla doing damage-control, discounts for European fleet buyers
Tesla faces challenges in Europe as repeated price cuts hurt leasing companies' fleets and slow service alienates corporate customers. Tesla is offering unofficial discounts and addressing service complaints, but struggles with falling resale values and competition from Chinese and legacy automakers. Fleet customers demand better service and lower repair costs.
Amitabh Kant on Tesla: 'India won't make any further changes in its EV policy to suit a specific company'
India can'on being asked why Tesla didn't come to India after the CEO announced an India visit in April but cancelled at the last moment.
New e-car norms on way as India looks to build a China Wall on EV street
The development comes weeks after Tesla chief Elon Musk cancelled his much-hyped visit to India in April. Tesla is yet to communicate its India plans to the government under the new EV policy, the official said. Musk, who was scheduled to visit India April 21-22, postponed his visit at the last moment, citing “very heavy Tesla obligations”.
Tesla 'silent'; yet to communicate its India plans: Official
American tech billionaire Elon Musk, who was scheduled to visit India on April 21-22, had postponed his visit at the last moment citing "very heavy Tesla obligations".
Govt to come out with detailed guidelines for investment under EV policy
The government, through the Ministry of Heavy Industries, is creating detailed guidelines for companies seeking investments under the electric-vehicle policy. The guidelines will cover duty concessions, setting up manufacturing units, and incentives for auto firms applying under the policy.
Tesla ramps up job cuts in China as sales slowdown bites
Tesla Inc. is escalating job cuts in China to regain market share, with layoffs extending to various departments at its Shanghai plant. The company faces challenges amid a global EV demand slowdown, intense competition, and shrinking market share. Despite layoffs, Tesla secured approval for its driver-assistance system in China.
US seeks information from Tesla on how it developed and verified whether Autopilot recall worked
Federal highway safety investigators are seeking information on Tesla's development of a fix for its Autopilot partially automated driving system recall. The National Highway Traffic Safety Administration has concerns about the recall's effectiveness, as Tesla has reported 20 crashes since the software update in December. The agency has asked for detailed information on how Tesla used human behavior science in designing Autopilot and the company's assessment of human factors.
Tata plans Jaguar Land Rover EV imports to India under new policy, sources say
Tata Motors plans to import luxury electric cars from Jaguar Land Rover (JLR) under a new policy reducing import taxes. They are also setting up a $1 billion plant in Tamil Nadu for JLR cars manufacturing.
Tesla begins making cars in Germany for export to India this year: Sources
Tesla has initiated the production of right-hand drive cars at its Germany plant for export to India later this year, according to sources familiar with the matter. A team from Tesla is expected to visit India soon to explore potential sites for a local manufacturing plant, which would require an investment of around $2 billion. India recently reduced import taxes on certain electric vehicles if manufacturers invest at least $500 million in the country and start production within three years, a move that benefits Tesla.
Tesla to scout sites in India for $2 bn-$3 bn EV plant
Tesla is set to send a team to India this month to explore potential locations for a proposed $2 billion to $3 billion electric car manufacturing plant. This move follows India's recent reduction in import taxes on certain electric vehicles, provided carmakers invest at least $500 million and initiate domestic production within three years.
Beyond Tesla…Teslar, Teslast: India to reduce EV import duty for Tesla, other global automakers
India has agreed to reduce import duties on electric vehicles (EVs) for companies like Tesla, clearing the way for the automaker to enter the Indian market. The reduced duty, from 70-100% to 15%, applies to all global companies, not just Tesla, and is tied to a minimum investment of $500 million. While some argue against such concessions, noting that previous entrants faced no such benefits, the move could open the door for Tesla to compete in India's growing EV market, which is currently dominated by more affordable options.
Have high import tariffs helped India improve manufacturing & counter China?
The government has successfully used tariff protection in some segments, but the policy needs a review if the country has to see improvements in efficiency and sustainability fronts.
Future of vehicles is electric, India's import duty sops a positive, say Audi top execs
India on Friday slashed import duties on premium electric vehicles produced by carmakers that commit to invest at least $500 million and start domestic manufacturing within three years to 15% from 100% (on cars priced upwards of $40,000) or 60% (for those priced below that threshold), a move that may pave way for Tesla's entry into the country.
Pitch to Tesla, India readies the red carpet for global majors with new EV policy
India introduced a scheme offering concessional tariffs to global EV players like Tesla. The policy aims to boost electric passenger car manufacturing by providing incentives for fresh investments and maintaining import duty regulations to encourage local production. Commenting on the move, Mahendra Nath Pandey, Union Minister for Heavy Industries said, “Companies setting up manufacturing facilities for EVs will be allowed a limited import of cars at lower custom duties.”
VinFast echoes Tesla's demand for India to cut import duty on electric cars
Vietnamese electric vehicle maker VinFast has requested India to reduce import duties on its cars for about two years while a local manufacturing plant comes on stream in Tamil Nadu. VinFast hopes to start production, for domestic sales first and then exports, by the middle of next year. India is considering the requests but has not made a decision.
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