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Tesla, owned by billionaire Elon Musk, will ship a workforce to India this month to scout places for a proposed $2 billion to $3 billion (about Rs 16,700 crore-Rs 25,000 crore) electrical automobile plant, UK’s Monetary Occasions reported on Wednesday.Final month, India lowered import taxes on sure electrical autos produced by carmakers that commit to take a position not less than $500 million (over Rs 4,150 crore) and begin home manufacturing inside three years.Tesla’s reported push into India comes at a time when EV demand is slowing and competitors heats up in its primary markets of the U.S. and China, inflicting the EV maker to report a drop in first-quarter deliveries and lacking estimates. The corporate will ship a workforce from the US by late April to check websites for the plant, with a give attention to states which have automotive hubs akin to Maharashtra, Gujarat and Tamil Nadu, the report mentioned, citing folks acquainted with the matter.The EV maker’s CEO Elon Musk has been attempting to enter the Indian marketplace for years however New Delhi needed a dedication to native manufacturing.Tesla officers have been in talks with authorities officers during the last 12 months, with Musk assembly Prime Minister Narendra Modi in June.The corporate mentioned in July final 12 months that it was desirous about constructing a manufacturing unit in India to supply an EV priced at $24,000. It additionally known as for decrease taxes on costlier fashions it desires to promote in India, Reuters has reported.Tesla’s potential entry into the Indian market might spur additional EV investments and will profit auto components makers primarily based in India, analysts have mentioned.(With Inputs From Reuters)Mohammad HarisHaris is Deputy Information Editor (Enterprise) at news18.com. He writes on numerous subject…Learn Morefirst revealed: April 03, 2024, 18:30 IST

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