This story was first published by the Benzinga India portal.
India is reportedly exploring a new electric vehicle (EV) policy that could significantly reduce import taxes for automakers willing to invest in local manufacturing after a proposal from Tesla Inc (NASDAQ: TSLA) eyeing the Indian market.
What Happened: The proposed policy might permit automakers to import fully-assembled EVs into India with a reduced tax rate, potentially as low as 15%, sources told Reuters.
Currently, cars that cost over $40,000 incur a 100% tax, while other cars attract a tax of 70%. Tesla’s popular Model Y, for example, starts at $47,740 (around ₹40 lakhs) in the US before tax credits.
An Indian government official told the news agency that the government has shown …
