The CEO of Tesla and the richest person in the world, Elon Musk, has expressed regret to India’s commerce minister Piyush Goyal for being unable to join him during a visit to the company’s Fremont, California, plant. The billionaire praised Goyal’s visit to the Fremont factory as a “honour” and voiced hope for a future meeting with the minister. Goyal’s post on X prompted Musk to respond, saying, “It was a pleasure to have you visit Tesla! I am sorry that I am unable to visit California today, but I hope to see you at a later time.”
Goyal commends India for its part in the Tesla journey:
Noting the critical role performed by Indian engineers and financial experts holding key positions in the firm, Piyush Goyal praised India’s contribution to Tesla’s quest to revolutionize mobility. Goyal reiterated his previous claim, saying that Tesla is expected to quadruple its purchases of Indian components.
Commencing on November 13, the Union Minister is presently in the United States for a four-day visit to attend the Asia-Pacific Economic Cooperation (APEC) Summit and the Ministerial Meeting of the Indo-Pacific Economic Framework (IPEF).
Coming soon to India: Tesla’s EV factory?
Goyal’s visit occurs at a period of conjecture around the Indian government’s potential tax benefits for Tesla in exchange for the company establishing an electric vehicle production plant there. According to a recent Financial Times story, the Indian government is thinking about lowering the tax on electric vehicles to 15% overall. The policy hasn’t approved by the government yet, according to the article.
As per the Financial Times, Tesla has requested a preliminary waiver on the customs charge imposed on automobiles imported into India. The import charge on all fully built-up (CBU) automobiles under $40,000 is now 70%, and the import duty on vehicles over $40,000 is 100%.
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