Bad news for Tesla lovers in India as world's richest man Elon Musk….
Global EV leader Tesla has expressed interest in setting up showrooms in India but is not interested in manufacturing cars in the country, Union Heavy Industries Minister H D Kumaraswamy stated on Monday. Meanwhile, US President Donald Trump remarked that it would be 'unfair' to the United States if Tesla were to establish a factory in India to bypass the country's tariffs.
'Mercedes Benz, Vokswagen, Skoda, Hyundai, Kia all these companies have already shown interest,' Kumaraswamy told reporters here.
'Tesla… They are more (interested) only to start showrooms. They are not interested to (start) manufacturing in India,' Kumaraswamy told reporters here.
The minister made the remarks at a press conference to announce the unveiling of guidelines for the Scheme to Promote Manufacturing of Electric Cars in India.
'So far they (Tesla) have not shown interest. Tesla representative only participated in the first round of stakeholder discussions for the Scheme to Promote Manufacturing of Electric Cars in India. The company's representative was not part of the second and third round of the stakeholder deliberations,' an official told PTI.
Tesla CEO billionaire Elon Musk had said in April last year that his visit to India has been delayed due to the company's heavy obligations.
Global automobile makers including Mercedes Benz, Skoda-Volkswagen, Hyundai and Kia have shown interest in manufacturing electric cars in India, Union Heavy Industries Minister H D Kumaraswamy said on Monday.
The said companies have expressed interest during the stakeholder discussions between the government and the industry regarding the 'Scheme to Promote Manufacturing of Electric Passenger Cars in India', the detailed guidelines for which were unveiled by the minister.
While the scheme was notified on March 15 last year, its guidelines were issued on Monday.
'Mercedes Benz, Vokswagen, Skoda, Hyundai, Kia all these companies have already shown interest,' Kumaraswamy told reporters here.
To encourage the global manufacturers to invest under the scheme, the approved applicants will be allowed to import Completely Built-in Units (CBUs) of e-4W with a minimum CIF (cost, insurance and freight) value of USD 35,000 at reduced customs duty of 15 per cent for a period of 5 years from the application approval date.
Approved applicants would be required to make a minimum investment of Rs 4,150 crore in line with the provisions of the scheme.
The window for receiving applications through the Notice Inviting Applications will be for a period of 120 days (or more). Further, the Ministry of Heavy Industries shall have the right to open the application window, as and when required till March 15, 2026.
(With Inputs From PTI)
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