We all know that day by day, the condition of fresh and healthy air is going to be reduced. To not let this situation continue, it’s very important to look for other options or alternatives which can reduce the use of things which produce harmful components of air. For this purpose, TSLA stock had started it’s unique and very effective ways in the form of electric cars. With the help of these cars, air pollution can be reduced to a very large extent. India is the second-largest country in the terms of population.
Therefore, in India, the number of vehicles producing harmful air pollutants is great. That is the reason, the Present Indian PM thought to bring Tesla on the land of India. At present, the cost of Tesla cars would be very costly for Indian but if the same cars are manufactured and sold from India, chances would be very high that the price of the cars for Indians would be reduced.
Just like this and some other plans, Indian PM Narendra Modi visited the office of Tesla in the year 2015. That time he was welcomed warmly by the CEO Mr Musk. During his visit, Mr Musk offered him the tour of his electric car manufacturing unit. At that time, Modi offered him to work in India. Musk didn’t give any confirmation at that time. Later on, Mr Gadkari, an official from the Indian side also visited California and met with Mr Musk regarding the same. But even that time, there came no satisfactory result.
Just like us, you also must be eager to know why Mr Musk refused the offer of India to establish a new car factory there. For this, there were mainly three reasons. Hundred per cent export cost is one of the main reasons for refusing the offer. While offering Mr Musk to establish the Tesla business in India also, the Indian government kept this first condition before him. According to this condition after manufacturing the cars in India, Tesla can sell this car outside India only after paying 100% export duty tax.
The second reason for this was to take any venture company from India while starting a business in India. Tesla was not allowed to expand the business alone in India and that is the reason, it could not accept this proposal of India. The third and very important reason behind this was to take 40% raw material from India only, to manufacture electric cars.
So with all these three major conditions, India lost the chance to fetch the Tesla in India. You can also know its balance sheet at https://www.webull.com/balance-sheet/nasdaq-tsla before investing in this stock.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.