The Indian government announced reduced import tariffs for electric vehicles, conditional on multinational companies investing and establishing local factories, benefiting companies like Tesla.
In 2023, Chinas automobile production and sales volume reached a new high, exceeding 30 million units for the first time. The export of new energy vehicles has increased significantly, and China is expected to become the worlds largest automobile exporter.
According to the UKs Financial Times, Musks company has requested the Indian government to reduce import tariffs on electric vehicles to facilitate easier access to this vast and growing market.
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