Elon Musk said a possible Tesla investment in India is very likely after meeting prime minister Narendra Modi in New York. While this doesn't necessarily mean an EV gigafactory, it might signal that India is open to lowering the car import tariffs that prevented Tesla from selling its EVs into the country.
The first rumors of Tesla entering the Indian market surfaced in 2020, although the EV maker and the Indian government could not agree on the conditions. India has a massive 110% tariff on vehicles imported from China, and Elon Musk could not convince local authorities to make an exception for Tesla. India wanted Tesla to build its cars in the country, but the American carmaker wanted to test the market before committing to local manufacturing.
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