After sitting on the fence for years, billionaire Elon Musk-promoted Tesla has agreed to set up a manufacturing unit in India to make electric cars for domestic sale as well as export. The offer was made when senior executives of the US electric car company met Indian government officials yesterday.
Tesla's changed stance on its India plan comes after the Indian government refused to accept the company's request last year to reduce duty on imported cars, including the battery-powered ones. The government had categorically made it clear that Tesla must manufacture in India and not just import from China if it wants to sell its products in the Indian market.
"Tesla did mention about setting up a unit here as many manufacturing companies are looking to diversify beyond China. Their executives did not stress on reducing taxes this time", said a senior government official. The investment details and the whereabouts of the proposed facility are to be announced.
My take
Great news. Let more and more foreign companies invest in India.
Tailpiece.
Got up a trifle earlier than 6, the chores.
Sajish, the khalifa, arrived by a quarter past 7 to give me haircut and massage. Was ready by a quarter to 10. Selvam comes in for pressing the clothes.
Drove to the petrol bunk to check the Chevy's tyre pressure.
Shut down The Quarterdeck in stages.
Lekha had helped me in washing down the Chevy, in the evening.
No comments:
Post a Comment