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Paytm CEO Would Love to Own a Tesla But Wants an EV Plant Set Up in India

On Saturday, Musk, in a series of tweets, voiced his opinion that India’s import duties on EVs are "highest in the world by far".

On Saturday, Musk, in a series of tweets, voiced his opinion that India’s import duties on EVs are "highest in the world by far".

On Saturday, Musk, in a series of tweets, voiced his opinion that India’s import duties on EVs are "highest in the world by far".

Tesla CEO Elon Musk has made it clear that an electric vehicle factory is quite likely to be built in India. The company will only move forward if the Indian government lowers tariffs on imported EVs. The demand for lowering rates on imported electric vehicles have evoked reactions from several industrial bigwigs. The latest to respond to Tesla Inc’s request is one of India’s youngest billionaires. On Tuesday, Paytm founder and CEO Vijay Shekhar Sharma shared his thoughts on Twitter. He said that he would love to own an American electric vehicle but would want Tesla CEO Elon Musk to set up a factory in India. “Even though I am waiting for a Tesla, I will love that we have everyone’s factories in India. More Make-in-India, more economic growth in India.” Sharma said in a tweet.

Sharma’s comment came after Ola Cabs founder and CEO, Bhavish Aggarwal expressed disagreement with Tesla seeking lowered import duty rates. On his official handle on the micro-blogging site, Aggarwal responded to a tweet speaking about automotive manufacturer Hyundai backing Tesla’s demands. To which, Ola Cabs CEO said, “Strongly disagree with both.” He added, “Let’s have confidence in our ability to build indigenously and also attract global OEMs to build in India, not just import.” Aggarwal also mentioned that India would not be the first country to do so.

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On Saturday, Musk, in a series of tweets, voiced his opinion that India’s import duties on EVs are “highest in the world by far". YouTuber Madan Gowri requested Musk to soon launch Tesla cars in India. “We want to do so, but import duties are the highest in the world by far of any large country! Moreover, clean energy vehicles are treated the same as diesel or petrol, which does not seem entirely consistent with the climate goals of India," Musk said in a tweet.

In a follow-up tweet, he wrote, “But we are hopeful that there will be at least a temporary tariff relief for electric vehicles. That would be much appreciated.”

Reportedly, Tesla is lobbying in the country seeking a huge reduction in import tariff on electric vehicles. The EV giant registered a local company in January this year and has ramped up local hiring.

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first published:July 29, 2021, 19:45 IST