Tesla to invest up to $2 billion for Indian factory
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 percent for the first two years of operations, the Economic Times reported on Friday.
Reuters reported in August that India is working on a new EV policy to slash import taxes to as low as 15 percent - compared to the current 100 percent on cars priced above $40,000 and 70 percent for the rest - in exchange for a commitment to some local manufacturing.
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