Elon Musk the CEO of TESLA declared that its electric vehicle segment urge to launch the cars in India. However, the import duty of the country is much higher on Electric vehicles “highest in the world by far”.
Answering the Indian YouTuber on Twitter, who has urged to launch the TESLA cars in India. In Musk’s comment, he blames the devastating import tax.
“We want to do so, but import duties are the highest in the world by far of any large country! he composed. Moreover, clean energy vehicles are treated the same as diesel or petrol, which does not seem entirely consistent with the climate goals of India, he figured.”
In the previous year, a report stated that India has opted for methods to surge the use of electric cars in the country. The government has reduced the GST from 12 to 5 per cent so as to save the domestic electric companies but it has the duty of 125% on imported vehicles.
Musk before stated that responding to the tweet of the Indian follower. “I’m told import duties are extremely high (up to 100 per cent), even for electric cars. This would make our cars unaffordable,”
In the upcoming central budget offering tax relief towards purchasing the electric vehicles, the GST officials in its meet held the previous year July cut the tax upon the Electric vehicles from 12% to 5% dated 1st August 2019.
The twin rate cuts are produced to enhance the Electric Vehicle sector. The budget in the previous year urged the tax deduction of Rs 1.5 lakh on the interest furnished on the loans secured to the bought electric vehicles.
Electric vehicles state to provide much more energy with respect to the electric cost it is cheaper than non-renewable resources and thus reduce the dependability on petrol and diesel. The electric vehicles in India have just arrived and thus the people are just trying to taste the new beginning. Although it is somewhere costly in the present times its running cost is cheaper than fuel vehicles. The present import tax duty is higher on electric vehicles in India. Elon Musk who urged to bring Tesla to India accuses high import duties on Electric vehicles.
