Potential Import Duty Cuts Could Bring Low-Cost Teslas to India
2023 • 5min • News • Business
Published On: November 01, 2023 - In a sign of relief for foreign EV makers such as Tesla, the government is likely to reduce the import duties on Electric Vehicles (EVs). Currently, the EVs priced below $40,000 face an import duty of 70%. However, with the EV policy, the import duties are likely to be around 15%-30% for EVs priced up to $35,000. Tesla is likely to kick off with around 50,000 Completely Built-Up (CBUs) vehicles, with the price range between $25,000-$35,000. In 2023, more than 58,000 four-wheeler EVs were registered in India.