Elon Musk: China will be out of power; the government gave a big offer to Elon Musk

Elon Musk: The government has invited Elon Musk and car manufacturers from around the globe to discuss EV policy. This meeting aims to boost electric vehicle manufacturing in India. Find the full details of this matter here.

Elon Musk

Elon Musk: Before the inauguration of the new US President Donald Trump on January 20, the Ministry of Heavy Industries has invited Tesla CEO Elon Musk and EV manufacturers worldwide for a discussion on electric vehicle policy. This meeting is intended to promote the production of electric passenger cars in India or to establish guidelines for EV policy. It is the second consultation session on these guidelines.

Government extends significant offer to Elon Musk

Given Tesla's past interactions with India, there is a consideration to re-engage with the company. Tesla's investment plans in India were previously stalled. There is a chance that discussions on this matter may resume. Vietnam's Vinfast has already shown interest in investing in India.

Topics to be discussed

The EV policy includes several proposals, including a plan to reduce export costs for EV manufacturers, requiring an investment of at least $500 million (about Rs 4,150 crores) in India. Additionally, a DVA of 25 percent must be achieved within three years of operation and 50 percent by the fifth year. According to a Financial Express report, for eligible manufacturers, the import tax on EVs costing more than $35,000 CIF (cost, insurance, and freight) will be lowered to 15 percent from the current rates of 70 percent or 100 percent.