Tesla's India entry gets boost as government approves new EV policy
9 months, 1 week ago

Tesla's India entry gets boost as government approves new EV policy

India Today  

The government announced a new electric vehicle policy on Friday that is expected to provide a major boost to Tesla's plans to start operations in India. As part of the new policy, the government will lower import taxes on certain electric vehicles for companies that commit to at least Rs 4150 crore in investment in addition to building a domestic manufacturing facility in the country. They will be granted a three-year period to establish local manufacturing facilities for electric vehicles, ensuring that at least 25 per cent of the components are procured domestically. The manufacturing facilities in India should be set up within 3 years and start commercial production of e- vehicles, and reach 50 per cent domestic value addition within 5 years at the maximum. Yes, a customs duty of 15 per cent would be applicable on vehicles with a minimum CIF value of USD 35,000 and above for a total period of 5 years, provided the manufacturer sets up manufacturing facilities in India within 3 years.

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History of this topic

Indian EV market likely to touch Rs 20 lakh crore by 2030, will create THIS many jobs
4 days, 13 hours ago

Indian EV market likely to touch Rs 20 lakh crore by 2030, will create THIS many jobs

India TV News  

Union minister Nitin Gadkari today said the Indian electric vehicle market potential is likely to touch Rs 20 lakh crore and it will create around 5 crore jobs across the entire EV ecosystem by 2030. Addressing the '8th Catalyst Conference on Sustainability of E-Vehicle Industry - Evexpo 2024', Gadkari said the estimated electric vehicles finance market size will be around …

Delhi leads India in EV adoption: FICCI-Yes Bank report
2 weeks, 5 days ago

Delhi leads India in EV adoption: FICCI-Yes Bank report

Live Mint  

New Delhi, December 4 : The adoption of electric vehicles in India is surging, with Delhi emerging as the leader in EV penetration, according to a report by FICCI and Yes Bank. The report highlighted that Delhi has achieved an EV penetration rate of 11.5 per cent, driven by its adoption across multiple segments. Additionally, Gujarat, Odisha, Kerala, and Punjab …

Planning to buy an electric car? This government move may make EVs cheaper
2 weeks, 6 days ago

Planning to buy an electric car? This government move may make EVs cheaper

India Today  

In order to encourage global auto giants, including Tesla, to invest here, the Indian government announced the new EV policy in March 2024. While the new EV policy aimed at benefitting companies investing in building new plants, the government is now contemplating extending benefits to automakers building electric models at existing factories in the country, as per a report by …

India to expand EV policy for other automakers after Tesla doesn't turn up: Report
3 weeks, 3 days ago

India to expand EV policy for other automakers after Tesla doesn't turn up: Report

Hindustan Times  

The Centre is planning to expand its electric vehicle policy to also include automakers who currently manufacture, instead of just limiting it to ones willing to enter and build new plants, Reuters reported. A view of Tesla logo at an electric vehicle charging station between Los Angeles and Las Vegas in Baker, California, U.S., November 19, 2024 According to the …

India to expand EV manufacturing incentives after Tesla disappointment, source says
3 weeks, 3 days ago

India to expand EV manufacturing incentives after Tesla disappointment, source says

Live Mint  

* Incentives to be expanded to automakers using existing plants * Policy originally designed to lure Tesla to manufacture in India * Changes designed to encourage EV investment by other automakers * Policy rules expected to be finalised by March 2025 By Aditi Shah NEW DELHI, Nov 29 - India plans to expand electric vehicle incentives to automakers building models …

Centre will electrify its own fleet, states should follow example, says Tarun Kapoor, adviser in the PMO
1 month ago

Centre will electrify its own fleet, states should follow example, says Tarun Kapoor, adviser in the PMO

Live Mint  

New Delhi: The Union government is planning to use electric vehicles for its operations, and will urge states to follow suit, Tarun Kapoor, adviser in the Prime Minister's Office said on Tuesday. States will be incentivized to electrify their government fleets through interest-free loans from the Centre, Kapoor told the EV industry at the FICCI National Conference on Electric Vehicles …

GoI planning to revisit EV policy, in a bid to attract Tesla, other international automakers
1 month, 1 week ago

GoI planning to revisit EV policy, in a bid to attract Tesla, other international automakers

Firstpost  

Under the current Scheme to Promote Manufacturing of Electric Passenger Cars in India, companies can import electric vehicles at reduced customs duties if they commit to certain investment and localisation targets Currently, eligible companies are allowed to import EVs costing $35,000 or more at a reduced customs duty rate of 15 per cent, compared to much higher regular rates. Image …

Indians who prepaid $1,000 to order Tesla EVs ask for their money back as cars fail to arrive
4 months, 1 week ago

Indians who prepaid $1,000 to order Tesla EVs ask for their money back as cars fail to arrive

The Hindu  

In April 2016, Elon Musk invited Indians to preorder the upcoming Tesla Model 3. To woo automakers like Tesla while also protecting domestic carmakers like Mahindra and Maruti Suzuki, India reduced its import duties to 15% from 70%-100% in March 2024 for EVs cheaper than $35,000 — as long the automaker commits to building a factory in the country within …

Uttar Pradesh extends EV subsidy scheme for 3 years: How much can car buyers can benefit?
5 months, 1 week ago

Uttar Pradesh extends EV subsidy scheme for 3 years: How much can car buyers can benefit?

Hindustan Times  

The Uttar Pradesh government extended its Electric Vehicle Manufacturing and Mobility Policy till 2027, CNBC TV. The extension comes after Uttar Pradesh exempted all hybrid vehicles from road tax and registration fees which will increase the savings of buyers. As per the scheme, EV buyers will get ₹5,000 for two-wheelers and up to ₹1 lakh for fully-electric cars by the …

The way forward for investments in the EV space | Explained
5 months, 1 week ago

The way forward for investments in the EV space | Explained

The Hindu  

The story so far: According to media reports, the government is looking to expand the scope of its electric vehicle policy, announced in March, to include a retrospective effect. The policy announced in March aimed to provide Indian consumers with access to the latest technology and strengthen the EV ecosystem by encouraging healthy competition among EV players by attaining higher …

Battery electric vehicle sales cross 1 crore mark globally this year: Report
5 months, 3 weeks ago

Battery electric vehicle sales cross 1 crore mark globally this year: Report

India TV News  

This year, the sale of battery electric vehicles is expected to reach the 10-million milestone, demonstrating a significant accomplishment for the global passenger vehicle market. "By revamping supply chains and preparing to produce affordable EVs priced below $35,000, automakers like Ford, GM, Stellantis, and Volkswagen are positioning themselves to compete with market leaders," said research analyst Abhik Mukherjee. "These tariffs …

Tata shifts gears: Considers importing Jaguar Land Rover EVs after government cuts import duty from 100% to 15%
8 months ago

Tata shifts gears: Considers importing Jaguar Land Rover EVs after government cuts import duty from 100% to 15%

Live Mint  

India's Tata Motors is planning to import its Jaguar Land Rover luxury electric cars under a new government policy that lowers import taxes for companies agreeing to set up local manufacturing, according to a Reuters report. Import duties on some EV models have been slashed from as high as 100 percent to just 15 percent, provided the carmaker invests at …

Tesla scouts for its first India showroom locations
8 months, 1 week ago

Tesla scouts for its first India showroom locations

The Hindu  

U.S. electric carmaker Tesla is looking at potential showroom locations in New Delhi and Mumbai ahead of plans to begin sales in India later this year, two people familiar with the discussions said. India last month cut electric vehicle import taxes to 15% from as much as 100% for automakers that invest at least $500 million and set up a …

Tesla on Tamil Nadu's radar ahead of Elon Musk's India visit: Report
8 months, 1 week ago

Tesla on Tamil Nadu's radar ahead of Elon Musk's India visit: Report

India Today  

The Tamil Nadu government is set to aggressively market the state as a potential manufacturing site for global electric vehicles giant Tesla ahead of Elon Musk’s visit to India, reported Bloomberg News. Tamil Nadu’s Minister for Industries, Investment Promotion & Commerce TRB Rajaa told the publication that the state “will be pitching for all opportunities of electric vehicle manufacturing from …

Centre’s new EV policy permits states to offer incentives to bag investments
8 months, 1 week ago

Centre’s new EV policy permits states to offer incentives to bag investments

Hindustan Times  

The Union government has already announced a liberal EV policy for all aspiring investors and it is unlikely to give any company-specific concession, but states may offer incentives such as land at a concessional rate to attract foreign investments during Tesla CEO Elon Musk’s India visit later this month, two officials said. “Multiple firms have expressed interest in setting up …

Tesla begins hunt for sites to build car factory in India: Report
8 months, 2 weeks ago

Tesla begins hunt for sites to build car factory in India: Report

India Today  

Tesla is looking to set up a big factory in India and is sending over a team to scout for possible locations, reported The Financial Times. Last month, India decided to lower the taxes on some electric cars made by companies that agree to invest at least Rs 3,700 crore and start making cars in India within three years. But …

DC Edit | A smart electric vehicle policy!
9 months ago

DC Edit | A smart electric vehicle policy!

Deccan Chronicle  

After long deliberations, India has finally announced a new electric vehicle policy, which seeks to attract the best of technologies in the world to India. Under the new policy, the government would levy a concessional import duty of 15 per cent on 8,000 completely knocked down units of premium cars priced above $35,000 per year for five years. The conditions …

Tesla: Red carpet welcome in India?
9 months ago

Tesla: Red carpet welcome in India?

Live Mint  

India has announced a policy for electric vehicles that lowers the import duty for foreign-made EVs brought in by overseas auto majors. They’ll be allowed to import annually up to 8,000 EVs valued at $35,000 or more at a reduced import duty of 15% for five years, provided they invest at least $500 million in local manufacturing over the next …

New e-vehicle policy aims to attract foreign investment
9 months, 1 week ago

New e-vehicle policy aims to attract foreign investment

Deccan Chronicle  

New Delhi: In a move to make India as a manufacturing destination for electric vehicles or EVs in the country, the Centre on Friday approved the e-vehicle policy. Issuing an official statement, the ministry of commerce & industry said that the companies setting up manufacturing facilities for e-vehicles would be allowed to import a limited number of cars at lower …

Delhi EV policy extended till May
9 months, 1 week ago

Delhi EV policy extended till May

The Hindu  

Delhi Transport Minister Kailash Gahlot on Friday announced that the Electric Vehicle Policy 2020, will be extended till the end of May. All current incentives and subsidies remain intact, and any vehicles purchased from January 1 onwards will be eligible for the benefits under this extension, a Delhi government statement said. Comments and suggestions from various stakeholders are currently being …

India Approves EV Policy to Attract Global Players
9 months, 1 week ago

India Approves EV Policy to Attract Global Players

Deccan Chronicle  

New Delhi: In a move to make India as a manufacturing destination for electric vehicles or EVs in the country, the Centre on Friday approved the e-vehicle policy. As per the policy, a company will get three years for setting up manufacturing facilities in India and to start commercial production of e-vehicles, and reach 50 per cent domestic value addition …

Union Govt approves electric vehicle policy to make India a EV manufacturing hub
9 months, 1 week ago

Union Govt approves electric vehicle policy to make India a EV manufacturing hub

Op India  

In a move towards bolstering India’s position as a manufacturing powerhouse for electric vehicles, the Union Government has greenlit a comprehensive scheme aimed at attracting investments in the EV sector and promoting indigenous manufacturing of EVs equipped with cutting-edge technology. The overarching objective of the newly approved E-Vehicle Policy is to facilitate the manufacturing of EVs in India, thereby providing …

Explained: How does new EV policy pave road for Elon Musk's Tesla in India?
9 months, 1 week ago

Explained: How does new EV policy pave road for Elon Musk's Tesla in India?

Hindustan Times  

Centre on Friday approved a new policy for electric vehicles which offers duty concessions on imported cars to companies that invest at least USD 500 million to set up manufacturing units in India. Over recent months, Tesla representatives visited India frequently, and CEO Elon Musk even met Prime Minister Narendra Modi last year. 'No special treatment to Tesla' Recently, commerce …

India's EV import tax reduction policy signals victory for Tesla and global automakers
9 months, 1 week ago

India's EV import tax reduction policy signals victory for Tesla and global automakers

India TV News  

India announced plans to reduce import taxes on specific electric vehicles, contingent on companies investing a minimum of $500 million and establishing a manufacturing plant within three years, signalling a significant policy pivot. Beyond Tesla While Tesla stood to benefit significantly from the policy, it also paved the way for other global automakers to tap into India's automotive market, the …

Elon Musk's Tesla to enter India soon? Centre's new policy may benefit EV maker
10 months ago

Elon Musk's Tesla to enter India soon? Centre's new policy may benefit EV maker

Hindustan Times  

Months after expressing interest in entering the Indian market, billionaire Elon Musk-led Tesla may be making its way to the country as the central government is in the process to finalise its policy to extend concessional import duty, reported The Economic Times. Tesla founder Elon Musk with Prime Minister Narendra Modi Tesla is now on the verge of entering the …

Tesla soon in India, government close to finalising concession on import duties for EVs
10 months, 1 week ago

Tesla soon in India, government close to finalising concession on import duties for EVs

Firstpost  

Tesla, the prominent US-based electric automaker, may soon establish its presence in India, with the government nearing the finalisation of a policy to extend concessional import duties on electric cars valued above Rs 30 lakh for 2-3 years, suggests a report by The Economic Times. Sources familiar with the matter disclosed that the reduced import duties could be provided by …

Tesla makes big plans for India: May set up factory, make new car for developing nations
11 months, 1 week ago

Tesla makes big plans for India: May set up factory, make new car for developing nations

Hindustan Times  

As India moves closer to drafting a new electric vehicles policy, Tesla is in advanced talks to make an entry into the country and may be open to committing nearly $30 billion in investments, directly and indirectly, over the next five years in a manufacturing plant, and battery ecosystem and ancillary industries, people closely involved with the company’s official business …

Tata Motors lobbies India not to lower EV import taxes as Tesla looms: Report
1 year ago

Tata Motors lobbies India not to lower EV import taxes as Tesla looms: Report

Live Mint  

Tata Motors is pressing Indian officials not to lower import taxes of 100% on electric vehicles and to protect domestic industry and its investors, as the government reviews Tesla's plans to enter the market, people with direct knowledge said. As India tries to boost domestic manufacturing and electric vehicle adoption, Tesla is proposing to set up an Indian factory but …

Bihar Cabinet Approves New Electric Vehicle Policy, Check Details
1 year ago

Bihar Cabinet Approves New Electric Vehicle Policy, Check Details

News 18  

The Nitish Kumar-led government on Tuesday approved the Bihar Electric Vehicle Policy-2023 to achieve 15 percent EVs in all vehicle registrations in the state by 2028, a senior government official said. The scheme will help in addressing the issue of environmental pollution and fuel security” In addition, he said, “The Bihar Electric Vehicle Policy-2023, which is designed to steer the …

Will never give company-specific incentives in EV sector, govt. official on Tesla's demand
1 year ago

Will never give company-specific incentives in EV sector, govt. official on Tesla's demand

The Hindu  

India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. The official added that inter-Ministerial discussions have happened on the customs duty concession demand of the U.S.-based electric car maker Tesla, …

Tesla ready to open factory in India, but has this condition
1 year ago

Tesla ready to open factory in India, but has this condition

Hindustan Times  

Tesla is ready to invest up to $2 billion to set up a factory in India if the government cuts import duty on its vehicles to 15% for the first two years of operations, the Economic Times reported on Friday. Prime Minister Narendra Modi met Tesla chief executive Elon Musk during a state visit to the US in June. The …

India to be first non-European market for Tesla's proposed ‘most affordable car’: Report
1 year ago

India to be first non-European market for Tesla's proposed ‘most affordable car’: Report

Hindustan Times  

According to a report, India will be the second market and first non-European destination for a proposed 2-door electric car from Elon Musk's Tesla, with the model also being the largest EV manufacturer's ‘most affordable’ vehicle. “While Tesla has earmarked its German facility for this most affordable car, it expects sizable volumes of this model from the Indian market. Meanwhile, …

Tesla in India: Elon Musk’s EV company set to sign deal to start importing cars, set up $2bn factory
1 year, 1 month ago

Tesla in India: Elon Musk’s EV company set to sign deal to start importing cars, set up $2bn factory

Firstpost  

Tesla is expected to invest about $2 billion initially for its manufacturing plant. Tesla may also explore the possibility of manufacturing its batteries in India It seems that Tesla is set to enter the Indian market in 2024, first through imported cars and then later selling India-made Teslas. India is reportedly on the verge of finalizing an agreement with Tesla …

Tesla inches closer to pact with India for EV imports, local factory: Report
1 year, 1 month ago

Tesla inches closer to pact with India for EV imports, local factory: Report

India Today  

The government is close to finalising an agreement with Tesla that would allow the US automaker to import its electric vehicles to the country from next year, while also paving the way for a local factory in the next two years, reported Bloomberg News. Currently operating factories in the US, China, and Germany, Tesla's potential venture in India follows the …

Karnataka expects revised EV policy to attract ₹50,000 crore investments
1 year, 1 month ago

Karnataka expects revised EV policy to attract ₹50,000 crore investments

The Hindu  

In a bid to create a robust electric vehicles ecosystem in Karnataka, the Karnataka government on Friday unveiled a revised draft EV policy, which aims to attract ₹50,000 crore investment while creating job opportunities for one lakh people. “This proposed policy aims to transform Karnataka into a pioneering force in the field of electric mobility, embracing sustainable practices and equitable …

Tesla to enter India by January 2024: All you need to know
1 year, 1 month ago

Tesla to enter India by January 2024: All you need to know

India TV News  

Tesla, Elon Musk’s premium automobile company is said to be entering the Indian market and will start rolling out its range of vehicles in India soon. As per the recent reports, the Prime Minister's Office conducted a meeting which states that top officials are reviewing the upcoming phase of electric vehicle manufacturing in India, including Tesla's investment proposal. The Union …

PMO bats for Tesla factory in India at the earliest, clearances to be fast-tracked by January 2024
1 year, 1 month ago

PMO bats for Tesla factory in India at the earliest, clearances to be fast-tracked by January 2024

Firstpost  

Sources in the government have revealed that the PMO has instructed government agencies to issue all clearances for Tesla by January 2024, and to let them set up a factory in India, as soon as possible India is abuzz with anticipation as the Indian government reportedly is pushing to fast-track approvals for Elon Musk’s electric vehicle giant, Tesla, to make …

Tesla to source almost $2 billion from Indian auto part makers in 2023: Goyal
1 year, 3 months ago

Tesla to source almost $2 billion from Indian auto part makers in 2023: Goyal

The Hindu  

Tesla is likely to ramp up its sourcing from India this year to a little under $2 billion and while the government is keen to attract investors like the Texas-based electric automobile player, it will frame a policy for the sector that does not favour a single player, Commerce and Industry Minister Piyush Goyal said on Wednesday. “Last year, Tesla …

Delhi EV policy draft ready, to be placed in Cabinet
1 year, 3 months ago

Delhi EV policy draft ready, to be placed in Cabinet

Hindustan Times  

The draft of the fresh Delhi Electric Vehicle policy, 2020, is ready, and will be presented before the cabinet after discussions with the state transport minister Kailash Gahlot, transport department officials involved in the drafting process said on Saturday. The Delhi Electric Vehicle Policy -- one of the flagship plans of Delhi’s Aam Aadmi Party government -- was aimed at …

Tesla to discuss India factory for Rs 20 lakh EV with commerce minister: Report
1 year, 4 months ago

Tesla to discuss India factory for Rs 20 lakh EV with commerce minister: Report

India Today  

Representatives from Tesla are set to meet with commerce minister Piyush Goyal to discuss a proposal to set up a factory in India for manufacturing its cheapest electric vehicle worth Rs 20 lakh, reported news agency Reuters. It's worth noting that EVs currently account for less than 2 per cent of total vehicle sales in India, despite the country being …

No special policy for Tesla; can seek incentives under existing schemes: Official
1 year, 5 months ago

No special policy for Tesla; can seek incentives under existing schemes: Official

Deccan Chronicle  

New Delhi: The government so far is not looking to frame a separate policy for providing incentives to US-based electric car maker Tesla, and the company can apply to avail support measures under existing schemes like PLI for auto and advanced chemistry cells, a government official has said. The government has already rolled out the production-linked incentives schemes for advanced …

Tesla explores investment in India for massive electric vehicle factory and export hub
1 year, 5 months ago

Tesla explores investment in India for massive electric vehicle factory and export hub

Live Mint  

Tesla is currently in discussions with the Indian government regarding an investment proposal to establish a factory capable of producing approximately 500,000 electric vehicles on an annual basis, as reported by the Times of India, citing government sources. Led by billionaire Elon Musk, Tesla is also exploring the possibility of utilizing India as a manufacturing hub to export cars to …

India's Tesla Dreams Dashed? No tax waivers for Elon Musk’s EV company as they look to set up factories
1 year, 5 months ago

India's Tesla Dreams Dashed? No tax waivers for Elon Musk’s EV company as they look to set up factories

Firstpost  

Elon Musk’s Tesla is not being considered for any tax or duty waivers at the moment, revealed India’s Revenue Secretary, Sanjay Malhotra. Last time Tesla was looking to set up a factory in India, they faced similar issues, because of which they left Elon Musk’s hopes to set up an EV factory in India took a major setback. In recent …

Tesla in talks to set up India factory, cars' starting price Rs 20 lakh: Report
1 year, 5 months ago

Tesla in talks to set up India factory, cars' starting price Rs 20 lakh: Report

India Today  

Electric vehicle maker Tesla is actively pursuing talks with the Indian government to establish a local factory. According to government sources cited by The Times of India, Tesla plans to produce up to 500,000 EVs annually, with prices starting at Rs 20 lakh. By localising production, Tesla aims to make its cars more affordable in India, paving the way for …

Tesla proposes new EV plant in India for domestic sales, exports: Report
1 year, 7 months ago

Tesla proposes new EV plant in India for domestic sales, exports: Report

India Today  

Electric carmaker Tesla has proposed setting up a factory in India to build its electric vehicles for domestic sale and export, reported news agency Reuters. Quoting a source with direct knowledge, the news agency said the carmaker has expressed interest to build a factory in India and build electric vehicles locally. If Tesla successfully sets up a factory in India …

Electric push in draft Delhi policy for app-based cabs; bike taxis
1 year, 7 months ago

Electric push in draft Delhi policy for app-based cabs; bike taxis

Hindustan Times  

Chief minister Arvind Kejriwal on Wednesday approved a draft policy that will make it mandatory for app-based cab services such as Uber and Ola and delivery businesses to switch to all-electric fleets in seven years, legalise the operation of bike-taxis and outline rules for bike rental services in the national capital, said officials aware of the matter. will make it …

Delhi transport dept to organise online consultation for EV subsidy
1 year, 8 months ago

Delhi transport dept to organise online consultation for EV subsidy

Hindustan Times  

The Delhi government, which provides a subsidy for the purchase of electric vehicles, has found that at least 15-20% of people who purchase such vehicles cannot collect them due to erroneous paperwork. The Delhi government had allowed a subsidy of ₹ 10,000 per kWh battery capacity for four-wheelers, up to a maximum of ₹ 1.5 lakh. To ensure all consumers …

Govt. incentives to drive EV penetration in India, charging infrastructure key: Moody's
1 year, 8 months ago

Govt. incentives to drive EV penetration in India, charging infrastructure key: Moody's

The Hindu  

Government incentives, including those to consumers, local battery manufacturing, state-level subsidies and cuts in GST rates would help drive EV penetration in India, Moody's has said. In a report, Moody's Investors Service said India has the fourth-largest car market globally, but electric vehicle penetration is currently only around 1%. These include consumer incentives, production-linked incentives for advanced battery storage to …

India’s electric vehicle market grew 223% in 2022
1 year, 10 months ago

India’s electric vehicle market grew 223% in 2022

The Hindu  

India’s electric vehicle market grew 223% in 2022, adding around 48,000 EVs, according to market analyst firm Canalys. “The overall sentiment around the auto industry remained strong in India during 2022, propelled by pent-up demand and rising consumer buying power,” said Ashwin Amberkar, Canalys Automotive Analyst. Hyundai, placed second in the Indian car market after Maruti, has already launched its …

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