Tesla Electric Cars.
Highlight
- SII CEO Adar Poonawalla advises Elon Musk to invest in India
- Poonawalla on Twitter suggested Musk to set up Tesla manufacturing plant in India
- This will be the best investment you’ve ever made, SII CEO tells Musk
Serum Institute of India (SII) CEO Adar Poonawalla on Sunday asked Elon Musk to invest in India to manufacture Tesla electric cars, saying it would be his best investment so far.
Musk, who has made a successful USD 44 billion bid for Twitter, has in the past asked India to lower import duties to sell Tesla electric cars, but the government has insisted on local manufacturing.
Tagging Musk, in a post on Twitter, Poonawalla said, “…just in case you don’t want to buy @Twitter, some of that capital will be spent on @Tesla’s high quality mass manufacturing in India.” Consider investing in cars.”
He added, “I assure you this will be the best investment I have ever made.”
Last month, Union Minister for Road Transport and Highways Nitin Gadkari had said there is no problem if Tesla is ready to manufacture its electric vehicles in India, but the company should not import cars from China.
Musk said in August last year that US electric vehicle maker Tesla may set up a manufacturing facility in India if it is the first to succeed with imported vehicles in the country.
He said that Tesla wants to launch its vehicles in India “but the import duty is the highest of any major country in the world!”
Currently, India imposes a 100 per cent import duty on fully imported cars with a CIF (Cost, Insurance and Freight) value of more than US$ 40,000 and 60 per cent import duty on cars costing less than the amount.
read also , Is Elon Musk Replacing Twitter CEO Parag Agarwal? here’s what we know so far
read also , ‘RBI rate hike came as a surprise only because…’: Nirmala Sitharaman