TESLA IMPORTS
Changes likely in India's new EV policy, may benefit legacy car companies
The move comes as US electric carmaker Tesla Inc is still to make any firm commitment on building a factory in India. The policy, which aims to accelerate the local manufacturing of high-end electric cars, currently supports only fresh investments. Consultations are also on with stakeholders on another key issue troubling carmakers.
What is the 'Tesla of death'? All you need to know about this new Swiss technology
Deemed as the 'Tesla of death', a new suicide pod has been built in Switzerland will be used there for the first time to euthanize patients, who opt for assisted dying. This new death pod looks like an object straight out of sci-fi films. Here is a brief glimpse about this new tech's operation.
Tesla’s loss, not India: Ola's Bhavesh Aggarwal reacts to India-Elon Musk deal not moving forward
Ola CEO Bhavesh Aggrawal labeled Tesla's India exit a loss for Elon Musk amid India’s growing EV sector. Rajesh Kumar Singh noted Tesla's silence post-election. Musk canceled his April India visit to meet PM Modi, opting for China.
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.
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.
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 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.
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.
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”.
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.
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.”
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