Tesla Advisor joins India's first EV policy consult

In the first consultation on India's new Electric Vehicle (EV) policy, both global and local companies participated, with a focus on high-end cars. Tesla, represented by its advisor, The Asia Group, attended the meeting. Additionally, representatives from Vietnam's VinFAST, which is in the process of establishing an EV plant in Tamil Nadu, joined the meeting via video link. The meeting took place just days before the scheduled visit of Tesla chief Elon Musk to India. Among the other participants were Hyundai, Tata Motors, Maruti, BMW, Kia, Volkswagen, Mercedes, Toyota, Mahindra, and Renault-Nissan. Companies with existing manufacturing facilities in India were exploring avenues to leverage benefits under the new scheme. Meanwhile, others such as Tata Motors, Kia, and Hyundai, with substantial presence both locally and internationally, were evaluating potential opportunities. In March 2024, India introduced concessional tariffs for global electric vehicle (EV) manufacturers like Tesla, which included a significant reduction in customs duty, aiming to incentivise the establishment of manufacturing facilities within the country.