Elon Musk meets with the Prime Minister of India Narendra Modi at Blair House, Washington, USA on February 13, 2025.
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Tesla CFO Vaibhav Tanaa said he was careful in India when on Tuesday in the USA, when the manufacturer of electric vehicles faces falling sales and tariff threats.
Speaking at the call of earnings, he confirmed Tanaua Reports That the company is working on expansion to India, adding that entering a “great fashionable class” would be a great market.
Nevertheless, India is also a “very hard market”, and EV imports to the country are subject to 70% tariff and about 30% of luxurious tax, he said, noticing that this can make Tesla sold by India twice as expensive, he said.
“That's why we tried to understand very carefully when the time is the right time … These kinds of things cause some tension that we try to practice,” he added.
India signaled interest Tesla sets a base in the countryAlthough the nationalist policies of the country are some obstacles to the EV manufacturer.
Tanai's statements appear only a few days after Tesla CEO Elon Musk I talked to the Prime Minister of India Narendra Modi On topics, including cooperation on technology and innovation.
Modi also met with Musk during a visit to Washington in February, fueling speculation about Tesla's plans regarding India. In the same month, The sources have informed CNBC-TV18 that the company considered EV import from Berlin's plant to the country in April.
On the part of India, the government has He proposed a new policy This may cause the EV tariff drop from about 70% to 15% for companies that plan to locate production in this country.
Despite this, the experts told CNBC that Tesla would do it face prices under the programBecause the company can press on further policy reforms.
However, the new tariffs of American President Donald Trump on American trading partners, including India, could throw a cloud over potential negotiations between Tesla and New Delhi.
Washington imposed additional tariffs of 10% on India, but they can increase by 26% if Trump's 90-day break at Trump's “mutual tariffs” ends without a US trade agreement.
JD Vance Vice President met on Monday with Modi in India “Significant” progress Made in commercial conversations between two countries.
Tesla reported disappointing the results of the first quarter On Tuesday, including a 20% annual decrease in car revenues and a decrease in net income by 71%.