Tesla only keen on selling their cars in India, no further plans: H D Kumaraswamy

New Delhi [India], June 24 (ANI): Union Minister for Heavy Industries and Steel H D Kumaraswamy on Tuesday said that US vehicle major Tesla has so far shown interest only in opening a showroom in India, referring to the speculations of the company's intent to setup a manufacturing unit in India.

"Tesla is only interested in opening a showroom till now. They want to sell their car in India. There is no further development about Tesla," the Union Minister said, speaking on the sidelines of the launch of a portal that will enable foreign electric vehicle (EV) manufacturers to submit their applications to manufacture EVs in India.

Launched by the Ministry of Heavy Industries (MHI), the scheme is expected to attract investments from global EV manufacturers and promote India as a manufacturing destination for e-vehicles.

The Scheme will also help put India on the global map for manufacturing of EVs, generate employment and achieve the goal of "Make in India."

The approved applicants will be allowed to import Completely Built-in Units (CBUs) of e-4W with a minimum CIF value of USD 35,000 at reduced customs duty of 15 per cent for a period of 5 years from the Application Approval Date to encourage the global manufacturers to invest under the Scheme.

Approved applicants would be required to make a minimum investment of Rs 4,150 crores in line with the provisions of the scheme.

The scheme is strategically crafted to position India as a global hub for electric vehicle manufacturing.

With a minimum investment threshold of Rs 4,150 crore, it provides an enabling policy environment for leading global and domestic players to establish long-term manufacturing footprints in the country.

According to the Ministry, the application portal would be open for applications from 24th June 2025, 10.30 a.m. and will remain open until 21st October 2025 till 6:00 p.m.

The Ministry said that it has approved a forward-looking scheme to promote the domestic manufacture of passenger cars, with a special focus on electric vehicles (EVs). (ANI)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)