Brief by Shorts91NewsDesk / 11:10am on 21 Feb 2025,Friday Business
Tesla is making a renewed effort to enter the Indian market after two previous attempts. Following CEO Elon Musk's recent meeting with Prime Minister Narendra Modi, the company plans to import vehicles produced at its Berlin plant and is exploring potential factory sites in India. This initiative aligns with India's March 2024 policy allowing electric vehicle (EV) manufacturers to import up to 40,000 fully assembled EVs over five years at a reduced customs duty of 15%, contingent upon a $500 million investment in local manufacturing. This move comes as Tesla faces significant sales declines in key markets, including a 59.5% drop in Germany and a 63.3% decrease in France in January 2025. Additionally, U.S. President Donald Trump has criticized Musk's plans to establish a factory in India, adding complexity to Tesla's international strategy.
