Tesla is unhappy over 100 percent important tarifs on cars in India, elon musk, byd

Tesla, one of the large electric vehicle (EV) companies, has said that the 10 percent import tariff on cars in India is making customers difficult. Tesla’s Chief Financial Officer, Vaibhav Taneja said that Tesla is assessing when she has to enter this ‘very beneficial’ market. Earlier, Tesla’s Chief, Elon Musk also protested against more tariffs on the import of cars in India. Taneja said, “The car we send will become 100 percent more expensive. Because of this there is a lot of confusion. We are assessing when to enter India’s market. India’s market is very beneficial.” Competition has increased in EV market for Tesla over the years. It is also affecting the company’s sales and profit. The company’s net profit decreased by 71 percent in the first quarter of this year.

China’s byd sales have increased rapidly in the last few years in the International Market of EV. Last year, byd has surpassed Revenue Tesla from the sales of electric cars. The Chinese company has achieved a revenue of about $ 107 billion last year. In comparison, Tesla’s revenue is about $ 98 billion. BYD ranks first in the world’s biggest and most competitive China market in the world. Along with this, its sales have also increased in big international markets like Europe. It plans to increase manufacturing to more than 2 million units annually. It sells both electric and hybrid cars. Tesla’s portfolio includes only electric cars.

Tesla is ready to start business in India. The company’s first showroom in the country may open at Brandra Kurla Complex (BKC) in Mumbai. Recently, the company has taken a space of about 4,000 square feet in BKC’s Maker Maxity Building. In the second half of this year, the company can start business in the country. Last week, Prime Minister Narendra Modi had a telephone conversation with Musk. After this, Musk has indicated that he can visit the country soon.