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Tesla’s entry into India’s EV market will be 'good news’ for the country, says MG Motor India - TL;DR CNBC

Tesla’s entry into India’s EV market will be 'good news’ for the country, says MG Motor India

Publishing timestamp: 2024-04-24 00:40:38


Summary

MG Motor India's CEO Emeritus Rajeev Chaba believes that the entry of international automakers like Tesla into India's electric vehicle sector will help level the playing field and attract more players and investments. However, achieving the Indian government's goal of 30% EV sales by 2030 may be challenging. Tesla has been lobbying for lower import duties in India and was expected to announce a multi-billion dollar investment in the country, but CEO Elon Musk postponed his trip citing "heavy Tesla obligations." Despite challenges, Chaba remains optimistic about the future of EVs in India.


Sentiment: NEUTRAL

Tickers: TSLA

Keywords: tesla incasia economynarendra modibusiness newselectric vehiclesautosindia

Source: https://www.cnbc.com/2024/04/24/elon-musk-teslas-entry-into-india-ev-market-is-good-news-mg-motor-india-.html


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