In big win for Tesla, India to lower EV import tax if $500-million invested

News Snapshot:

India on Friday lowered import taxes on certain electric vehicles produced by carmakers that commit to invest at least $500 million and start domestic manufacturing within three years, bolstering Tesla’s TSLA-Q plans for the market. The policy is a big win for Tesla as it’s in line with what the company had been lobbying for in New Delhi, despite pushback from domestic carmakers. Tesla CEO Elon Musk has been trying to enter the Indian market for years but New Delhi wanted a commitment to local manufacturing. Tesla officials visited India several times over the last year, with Musk meeting Prime...