After Elon Musk's tweet on import duties on cars, Hyundai India's MD Mr. S.S Kim came in support for reduction of Import Duties.
Mr. S.S Kim says reduction in Import duties will lead to growth of EV Market in India.
Bhavish Aggarawal the CEO of Ola reacted to it and said India is "Lets have confidence in our Ability. "
Just few days ago Elon Musk had tweeted on Tesla's Indian Entry stating a higher import duties are causing delaying in the Plan.
As the day passed Hyundai India's MD Mr S.S Kim Reacted to it and stated "We have heard that Tesla is seeking some duty cut on imports of CBUs. So that would be very helpful for the OEMs to reach some economy of scale in this very price competitive segment," He also said that reduction in import duties will lead to increase in growth for the EV Industry in India.
Ola's CEO Mr Aggarawal also reacted to this matter, disagreeing the fact he stated "Let’s have confidence in our ability to build indigenously and also attract global OEMs to build in India, not just import"
Ola's New Electric scooter is on the way to be launched in the Indian Market. The Electric scooter is made in India which also leads the fact that vehicles can be made in India at a lower cost rather than bringing a CBU's in the country.
As we already know Tesla has started their operations in India, Model 3 has been spotted being tested on Roads, Tesla has also stared hiring executives for the same and is looking for space for the factory as well as showroom. Also know that Maharashtra and Karnataka state are in a row to give space for the EV Giant to enter the shores. A report of ET also stated that the government is ready to reduce the import duties if Tesla is willing to open the factory for local production.
Electric car being charged with 40% import duties making it a expensive deal to buy, and as we also know that only few options are currently available to buy when we search for EV's .
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