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HomeIndia"Best Investment": Adar Poonawalla Teases Elon Musk To Make Cars In India

“Best Investment”: Adar Poonawalla Teases Elon Musk To Make Cars In India


Elon Musk has made a profitable USD 44 billion acquisition bid for Twitter

Mumbai:

Serum Institute of India (SII) CEO Adar Poonawalla on Sunday wooed Elon Musk to put money into India to fabricate Tesla electrical vehicles, saying it is going to be one of the best funding he would have ever made.

Musk, who has made a profitable USD 44 billion acquisition bid for Twitter, had up to now requested India to scale back import duties to promote Tesla electrical vehicles however the authorities has insisted on native manufacturing.

In a put up on Twitter, tagging Musk, Poonawalla stated, “… just in case you don’t end up buying @Twitter, do look at investing some of that capital in INDIA for high-quality large-scale manufacturing of @Tesla cars.” He additional stated, “I assure you this will be the best investment you’ll ever make.” Last month, Union Road Transport and Highways Minister Nitin Gadkari had stated if Tesla was able to manufacture its electrical autos in India then there was ‘no drawback’ however the firm should not import vehicles from China.

In August final yr, Musk had stated that American electrical automobile maker Tesla could arrange manufacturing unit in India if it first succeeds with imported autos within the nation.

He had stated Tesla wished to launch its autos in India “but import duties are the highest in the world by far of any large country!” Currently, India imposes 100 per cent import responsibility on absolutely imported vehicles with CIF (Cost, Insurance and Freight) worth greater than USD 40,000 and 60 per cent on these costing lower than the quantity.

(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)

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