India hopes that Tesla will build a factory in the country to promote manufacturing, but Tesla requires sales first, and then talk about building a factory. However, India did not make concessions and did not make an exception to reduce the high import tariffs to Tesla. What is the reason?
Indian ride-hailing giant Ola believes it is not in the country’s best interest to offer special incentives to Tesla as the Indian government is trying to speed up the development of homegrown giants in the electric vehicle industry.
Ola has received an investment from SoftBank, and its CEO Bhavish Aggarwal is entering India’s nascent electric vehicle market. Currently, India, a country of 1.4 billion people, is embracing renewable energy to curb fossil fuel emissions.
Most recently, Ola, along with several other companies including Mukesh Ambani’s Reliance Industries and Hyundai Motor, won bids for a $2.4 billion plan in India to boost the country’s battery cell production.
“Tesla can come into India at any time, set up shop here and sell their cars,” Agarwal said. “They just want to be treated differently, which I don’t think is in India’s interest.”
Tesla has yet to launch a manufacturing operation in India. Tesla founder Elon Musk tweeted in May that Tesla would only build a factory in India after it was allowed to sell and service cars in the country. Musk has yet to comment.
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