Tesla to import cars from Germany, not China, as India plans take shape

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Tesla to import cars from Germany, not China, as India plans take shape - Business Standard

Quick Summary:

The prospect of securing a large-scale investment from a high-tech company like Tesla has heightened competition among state governments.

Their proximity to ports offers a strategic advantage, as Tesla intends to use its India plant as an export base alongside catering to the domestic market.

The policy allows companies to import up to 8,000 vehicles annually at a reduced customs duty of 15 per cent, significantly lower than the current 110 per cent, provided they commit to investing at least Rs 4,150 crore (approximately $500 million) in a local production facility.