Categories
investing.com

Tesla Negotiations for Indian Factory Resume – Source

Tesla Inc has proposed setting up a factory in India to build electric cars for domestic sale and export. The proposal comes after India refused to agree to Tesla’s request last year to lower the import tax on cars. Tesla met officials from Prime Minister Narendra Modi’s office and other ministries on Wednesday to discuss local sourcing of parts and other issues. The electric carmaker’s renewed interest in India comes nearly a year after it put on hold plans to sell cars in the country after failing to secure lower import taxes. Tesla had hired a local team and began a search for showroom space, but that was also abandoned last year. The meeting comes weeks ahead of Modi’s visit to the United States in June.