New Delhi tata motors India plans to import luxury electric cars from Jaguar Land Rover (JLR) under a new government policy that lowers import taxes for companies that agree to produce locally, two government officials said. It is said that
According to Reuters, Tesla also plans to start importing cars to India and investing in the country, but if Tata's plans come to fruition, it would be the first company to opt for policies aimed at expanding the use of electric vehicles (EVs). It will be a local automaker. .
A Tata spokesperson declined to comment, citing speculation.
of The policy announced in March will reduce import duties from up to 100% to 15%. It will apply to some EV models if the automaker invests at least $500 million and establishes a domestic factory within three years.
Tata initially pressured the Indian government not to lower tariffs to protect domestic industry.
Tata and JLR are currently in discussions about the possibility of applying for incentives under the EV policy, a third party with knowledge of the company's plans said, adding that the discussions were at an early stage.
„Tata wants to import JLR (EV) based on this new policy,“ one of the two government officials said, requesting anonymity as the company's plans are confidential. I have to.
While Tata is firming up plans to import JLR EVs from the UK, it also plans to manufacture JLR vehicles at a planned $1 billion factory in the southern state of Tamil Nadu.
It remains unclear what kind of JLR vehicles Tata will build there.
The Center met representatives of the auto industry on Thursday to begin finalizing the policy framework, officials said.
The meeting was attended by Hyundai Motors, VinFast, Volkswagen, BMW, Mercedes, Maruti Suzuki, Mahindra & Mahindra, Toyota Motors and others. Representatives from Tesla were also in attendance.
The official said at least a few more meetings would follow.
Tata dominates India's small but growing EV market. Despite slowing demand in major markets such as the US and China, electric models will account for around 2% of total car sales by 2023, with the government aiming for 30% by 2030. There is.