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Tesla has to buy $ 500 million worth of parts for India to consider tax relief

 

Tesla has to buy $ 500 million worth of parts for India to consider tax relief

According to the latest information, the stalemate between Tesla and the Indian government could have a solution. Should the company buy $ 500 million worth of components within India, the government is willing to consider Elon Musk 's demand for relief from import taxes. It stands in the way of Tesla's full entry into the Indian market.

However, the demand is not modest, and Tesla announced in August 2021 that it had purchased $ 100 million worth of parts in India. The carmaker also stated that it plans to buy additional components directly in the country and invest in infrastructure for electric vehicles, but only after the tax benefits are granted.

The carmaker could allegedly achieve a satisfactory amount of investment if it increases the volume of purchases of car parts from local manufacturers by 10 to 15 percent per year. In any case, it will have to provide the GOI with a parts purchase plan as well as a report on expected vehicle sales volumes in the country. There is also talk that components made in India could travel to China.

Problems and possible solutions

Tesla has been testing its vehicles in India since last year, but its full entry into the country faces several challenges, including the frequent occurrence of animals on the road or insufficient coverage of the road network by GPS maps . Elon Musk pointed out some time ago that import taxes in India are among the highest in the world and that his imported vehicles could be taxed at an extreme 100 percent tax.

Following Tesla's application for import tax relief, carmakers in India were advised to import partially assembled vehicles and complete them directly in the country. It is no secret that Elona Muska's reluctance to cooperate if its vehicles made in Shanghai, China, were imported to India.

However, despite these long negotiations without a final agreement, there can be some progress. The company has already obtained a homologation certificate for seven of its models and has also imported superchargers into the country. Representatives of the local government are addressing Tesla with calls for the construction of another plant in their region, so the problem is mainly in high politics.


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