With a new year comes new opportunities. As the electric vehicle market expands, many auto manufacturers are determined to improve their EVs to make them more affordable and accessible to the general public.
According to Electrek, Tesla has sought to expand its share in the market by making India its next geographic target once again. Being the largest auto market that Tesla has not been established in yet, the company has had multiple unsuccessful attempts over the last few years.
Because of the high import duties on vehicles brought into the country, Tesla has had difficulty getting into the world's most populous nation without establishing a manufacturing facility there, per CNBC.
However, the Indian government recently adjusted its vehicle import policies for a select few EVs, provided the auto manufacturer also commits itself to constructing a facility within the next few years of entering the Indian market, Electrek detailed.
While talks between Tesla CEO Elon Musk and the Indian government were put on hold after Musk visited China instead, it appears the collaboration is now moving forward.
It has been noted that Tesla has been speaking with real estate organizations to secure a showroom in the Indian capital of New Delhi. Meanwhile, the country has limited import tariffs to 15%, applying to up to 40,000 vehicles and no more than 8,000 annually, per Electrek.
According to the news outlet, the import tariffs would also require a roughly $500 million investment into local EV manufacturing over a span of five years, starting no later than within the first three years of importing vehicles into India.
Tesla has continued to expand further in Europe. This past year, the company received about $150 million in funding from the European Union to expand its Supercharger network. This initiative further supports the transition to owning EVs, which benefits drivers' bank accounts and the planet's air quality.
Unlike traditional vehicles, EVs produce no harmful pollution when driven, keeping the air cleaner. Furthermore, you can save up to $1,500 on maintenance and fuel annually, channeling funds toward other interests benefiting you and the planet.
🗣️ If you were going to purchase an EV which of these factors would be most important to you?
🔘 Good driving range 🔋
🔘 Affordable sticker price 💰
🔘 High-tech safety features 😌
🔘 Cheap maintenance costs 🛠️
🗳️ Click your choice to see results and speak your mind
"They need to add India soon to get a boost," wrote one Electrek reader.
"India is going to be a huge EV market soon," said another.
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