Elon Musk: ‘Challenges In India’ Delays Work
A contemporary grievance from Tesla founder Elon Musk about funding “challenges” in India has received sharp criticism from the Indian government. The government of India stated that the corporation was free to make use of the production-linked incentive (PLI) window to provide electrical automobiles.
Musk said that his company was going through a lot of challenges with the government to launch its products in India. Reportedly, Musk was attempting to place stress to slash tariffs with no commitment to produce in India.
Currently, Musk can bring in Tesla automobiles in CKD (completely knocked down) form with zero obligation and assemble. He can promote and sell it in India. Last year, Tesla requested the Indian government to reduce import duties on electric vehicles (EVs) in India.
On Thursday, Musk spoke about “challenges” in organizing enterprise in India. His remark came at a time when the rival company Mercedes-Benz are starting meetings of high-end electronics such as EQS in India. The government asked Musk to start manufacturing its iconic electric vehicles in India before any tax concessions can be considered.
According to The Hindu, the Indian government said that giving duty benefits to Tesla will not send a good signal to other companies. Reportedly, some companies have invested billions of dollars in India. Currently, cars imported as completely built units (CBUs) impose customs duty ranging from 60 to 100 percent depending on the quality of the product.
Earlier, Musk’s company had requested the government to standardize the tariff on electric cars to 40 per cent.
Elon Musk is a billionaire. He is a co-founder of 8 companies. He founded companies like Zip2, PayPal, SpaceX, and Tesla. Reportedly, Tesla is worth around $1tn and SpaceX is worth $100bn. He became the world’s richest person in 2021. He also became Time Magazine’s Person of the Year in 2021.