Will Elon Musk accept India’s Minister of opening Tesla Shop in Telangana State
Elon Musk recently said it’s hard to open up Tesla for Indian Market. He further stated that it’s hard to work with the government of India. However, this time a State’s Industry & Commerce minister KTR from Telangana has asked Elon Musk to open up a shop in his state. The Minister further said Hey Elon, I am the Industry & Commerce Minister of Telangana state in India Will be happy to partner with Tesla in working through the challenges to set shop in India/Telangana Our state is a champion in sustainability initiatives & a top-notch business destination in India
Hey Elon, I am the Industry & Commerce Minister of Telangana state in India
Will be happy to partner Tesla in working through the challenges to set shop in India/Telangana
Our state is a champion in sustainability initiatives & a top notch business destination in India https://t.co/hVpMZyjEIr
— KTR (@KTRTRS) January 14, 2022
The reason why the deal is stuck between Elon Musk and the Indian government is because of Subsidies. Elon Musk is trying hard to lower the import duty on his Tesla vehicles. However, this is being challenged by a lot of Indian car Manufacturers who don’t want to share this new EV market in India with Elon Musk’s Tesla.
Still working through a lot of challenges with the government
— Elon Musk (@elonmusk) January 12, 2022
Indians have been waiting for a long time for Tesla to enter the Indian EV market. Even a lot of Indians tag him asking when will Tesla come to India. Elon Musk is liked by a lot of Indians because of his simplicity and how he made it big by working hard.
The Indian electric vehicle market is still in its infancy, but it is expected to develop at a 90 percent CAGR from 2021 to 2030. In terms of penetration, electric car sales in India will account for only 1.3 percent of total vehicle sales in 2021. The market, on the other hand, is fast expanding and is predicted to grow in value.