With Tesla push, India mulls import tax reduce if EV makers construct domestically 

Reuters was first to report India is engaged on a brand new electrical car coverage that may slash import taxes for automakers that decide to some native manufacturing, following a proposal by Tesla which is contemplating getting into the home market. The coverage being thought of might enable automakers to import fully-built EVs into India at a lowered tax as little as 15%, in comparison with the present 100% that applies to many EVs. Shares of potential home rivals of Tesla like India’s Tata Motors fell practically 3% on the Reuters report, whereas rival Mahindra and Mahindra dropped over 2%, dragging the benchmark auto index to an intra-day low with losses of 1.1%.