Indian Commerce Minister and Tesla CEO to Discuss New EV Policy, Potential Factory and Market Entry

Discussions centered on Tesla's proposed $24,000 car manufacturing in India, establishment of charging infrastructure, component sourcing, and a favorable EV policy reducing import tax from 100% to 15% on fully built electric vehicles.

• Indian commerce minister Piyush Goyal will meet Tesla CEO Elon Musk in the United States to discuss Tesla's plans to enter the South Asian market.
• The high-profile meeting will focus on potential for Tesla's plans to set up an Indian factory, manufacturing a $24,000 car, sourcing components and establishing charging infrastructure in India.
• India's new EV policy that could reduce the import tax rate from up to 100% to 15% for fully built electric vehicles if companies commit to local manufacturing will also be part of the discussion.
• The meeting aims to ensure that talks between India and Tesla, which have been ongoing for several months, are progressing positively.
• In addition to facilitating Tesla's entry into India, the new EV policy is being expedited by Prime Minister Modi's office at various ministries, with government analyzing potential impacts on the domestic EV market.

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