Indian Commerce Minister Piyush Goyal is scheduled to meet with Tesla CEO Elon Musk next week, in what is considered a crucial moment for Tesla‘s entry into the Indian market. The meeting follows Musk’s meeting with Indian Prime Minister Narendra Modi earlier this year and is expected to pave the way for Tesla‘s expansion in the country.
The discussions between Goyal and Musk will focus on Tesla‘s plans to establish a manufacturing facility in India. Tesla aims to produce a $24,000 Electric vehicle locally, increase the localization of components, and develop a robust charging infrastructure in the country. Sources familiar with the matter have revealed that these topics will be at the forefront of the meeting.
Another important aspect of the dialogue will be India’s forthcoming policy shift to reduce the import tax on fully assembled Electric vehicles. Currently, the import tax can go up to 100%, but the government plans to lower it to 15% for automakers that commit to local manufacturing. The meeting between Goyal and Musk aims to ensure that discussions between India and Tesla continue to progress positively and constructively.
While there is no official confirmation of the meeting from either the Indian government or Tesla, the news has generated a lot of buzz among netizens. Social media is abuzz with reactions to the potential collaboration between Tesla and India. Some are optimistic about the meeting, expressing hope that it will lead to affordable Electric vehicles and technological advancements. Others question the need for special treatment for Tesla and highlight concerns about the compatibility of Tesla‘s vehicles with Indian roads.
This meeting comes after Tesla‘s previous attempt to enter the Indian market hit a roadblock due to high import taxes. The Indian government made it clear that Tesla would need to engage in local manufacturing to take advantage of the Indian auto market. With the upcoming meeting between Goyal and Musk, it seems that Tesla is making progress in addressing these concerns and finding a way to establish a presence in India.
Overall, the meeting between Piyush Goyal and Elon Musk holds great significance for Tesla‘s expansion plans in India. It provides an opportunity for both parties to discuss crucial issues such as local manufacturing, import taxes, and infrastructure development. If successful, this meeting could mark a significant step forward in Tesla‘s efforts to tap into the South Asian market and contribute to India’s transition to Electric mobility.