Tesla “carefully” works to enter India amid the tariff fears: Vaibhav Taneja

Timing Vaibhav Taneja said on Tuesday in the United States, where the electric vehicle maker faces a decrease in sales sales and tariffs.

He spoke in a profit call, confirmed Taniga Reports The company is working on expansion in India, adding that it will be a great market for entering, thanks to the “big middle class”.

However, India is also a “very difficult market”, where EV imports in the country are 70 % tariffs and about 30 % of the luxury tax, indicating that this can make Tesla in India twice expensive.

“For this reason, we were very keen to try to find out when the time is … these types of things create a little tension, which we are trying to work on,” he added.

India has indicated an interest Tesla preparing a base in the countryAlthough the country’s protectionist policies offer some obstacles to EV maker.

Taneja’s comments just days after the CEO of Tesla Elus Musk Talk to Indian Prime Minister Narendra Modi On topics including cooperation in technology and innovation.

Moody also met with Musk during his visit to Washington, DC, in February, which prompted speculation about Tesla’s plans for India. In the same month, The sources said CNBC-TV18 The company was considering importing EVS from its factory in Berlin to the country early April.

On the part of India, the government He suggested a new policy This may see that an EV tariff drops from about 70 % to 15 % for companies that plan to localize some industrialization in the country.

However, CNBC experts told Tesla to remain so Price pressures face under the planHowever, the company is likely to pay more policy reforms.

However, the new customs tariff for US President Donald Trump on American commercial partners, including India, can draw a cloud on any possible negotiations between Tesla and New Delhi.

Washington has imposed an additional 10 % tariff on India, but this may rise by 26 % if the stopping of 90 days ended on Trump’s “mutual tariff” without a trade deal for the United States.

Vice President JD Vance met with Modi in India on Monday, and he praises “Great” In commercial talks between the two countries.

Timing I mentioned the results of the first quarter are disappointing Tuesday, including a 20 % decrease on an annual basis in car revenues and 71 % decreased in net income.