In Short:
Tata Motors plans to import Jaguar Land Rover electric cars to India under a new policy that reduces import taxes for companies setting up manufacturing locally. Tesla is also expected to start importing cars and investing in India. Tata is considering applying for incentives under this policy, which requires a minimum investment of $500 million for lower import taxes. Tata may also manufacture JLR cars in Tamil Nadu.
Tata Motors and JLR Looking to Import Luxury EVs to India
Exciting news coming from Tata Motors – they are planning to import their Jaguar Land Rover (JLR) luxury electric cars to India under a new government policy aimed at boosting local manufacturing. This move would make Tata the first local carmaker to take advantage of the policy designed to promote the use of electric vehicles.
Tesla Also Eyeing Indian Market
Not to be left behind, Tesla is also expected to start importing its cars to India and make an investment in the country. However, Tata’s potential plan to import JLR EVs would pave the way for them to be pioneers in this initiative.
Speculations and Plans
While a Tata spokesperson refrained from commenting on these speculations, sources reveal that discussions are underway regarding the application for incentives under the new EV policy. The company is considering importing JLR EVs from the UK while also planning to manufacture JLR cars at a new $1 billion plant in Tamil Nadu.
Government’s Role
The Indian government had initially faced resistance from Tata regarding the reduction of import duties to safeguard the domestic industry. However, now discussions are ongoing with car industry representatives to finalize the framework for the new policy. The aim is to support the growth of the EV market in India, with electric models accounting for about 2% of total car sales in 2023.
With more meetings on the horizon, it will be interesting to see how these developments unfold and how the Indian EV market evolves in the coming years.
