In win for Tesla, India promises to lower import tax for EV makers that invest $500m

In win for Tesla, India promises to lower import tax for EV makers that invest $500m

FILE PHOTO: The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File Photo

India said on Friday it will lower import taxes on certain electric vehicles for companies committing to at least $500 million in investment and manufacturing facilities within three years, potentially bolstering Tesla‘s plans to enter the market.