American electric maker Tesla’s chief executive Elon Musk has once again expressed his intention to manufacture low-cost cars in India. He said during the ongoing G-20 summit in Indonesia that he is considering a proposal to build a low-cost model of Tesla for markets like India and Indonesia.
Earlier this year, the central government in India Tesla Musk’s request for a tax exemption on electric cars was turned down. There was strong opposition from the automobile industry in India to give such tax exemption. In this regard, the industry said that this would harm the companies manufacturing cars in the country. The government said that under the rules, the assembly of vehicles in the country is already taxed less. Tesla was also invited by some Indian states to set up the unit. These states included Punjab, Telangana, West Bengal and Maharashtra. Musk, the world’s richest man, also wanted a meeting with Prime Minister Narendra Modi to discuss tax exemptions. However, the government was not in favor of giving Tesla any tax exemption.
Musk has been facing difficulties since he bought micro-blogging site Twitter last month. Musk sold at least $3.95 billion worth of shares in electric car maker Tesla just days after buying Twitter. He said in August that he would sell Tesla shares only if he was told to Twitter. buy be forced to
In a regulatory filing made by the company, it has been told that Musk has sold about 1.95 crore shares. However, it has not been given whether there was already a plan for this or not. Musk, who bought Twitter for about $ 44 billion, has taken a loan of about $ 13 billion from US banks for this. Apart from this, some high net worth investors have promised him to invest about $ 7 billion in the company. However, it is not known whether these people have made this investment or not.