Amid Talks With Tesla, India Weighs 5-Year Tax Cuts On EV Imports
NDTV
Tesla is seeking to break into one of the world's most promising auto markets where the demand for electric vehicles is rising among the country's burgeoning middle class.
India is considering tax cuts on the imports of completely-built units of electric vehicles, for a period of up to five years, as it tries to entice the likes of Tesla Inc. to sell and eventually make its cars in the country.
The government is working on an electric vehicle policy that would allow international car manufacturers to import battery-powered vehicles on concessional duty rates if they commit to eventually building them in India, people familiar with the matter said.
A final decision is yet to be taken on the policy's contours, the people said, asking not to be identified as the discussions are private. Spokespeople from India's heavy industries and commerce ministries did not immediately respond to emails seeking comment.
