View: Modi shouldn’t chase Musk to Make in India
Elon Musk may be close to winning a long-running battle of wills with the Indian government. Policy makers in New Delhi have been hoping to entice Tesla Inc. to produce electric vehicles in India. Musk, meanwhile, wants to sell his cars here without paying the exorbitant import tariffs that India charges.
According to Bloomberg News, the two sides may now be close to an agreement that would slash tariffs on Tesla imports from 2024, as long as the company sets up a factory in India within the next two years. Tesla may invest $2 billion in the plant and commit to buying as much as $15 billion worth of inputs from domestic automotive component producers.
