Tesla to cut import duty |
The US-based electric car major Tesla is in discussion with Indian government seeking relief on import duties till a local factory is built in India, according to the company`s chief executive Elon Musk. Earlier this year, Musk had stated that he was hoping for Tesla to enter India this summer with its products, which has so far not materialised. At present, India imposes 60% customs duty on import of completely-built electric cars priced less than $40,000. If the electric car is assembled in India, the customs duty on the completely knocked down units is 10%. If the value of the imported car is more than $40,000 the customs duty is 100%.
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