Tesla is ‘carefully’ working on its India entry amid tariff concerns, says CFO

Tesla is cautiously navigating an entry into India, CFO Vaibhav Taneja said on Tuesday in the U.S., as the electric vehicle maker faces falling sales and tariff threats. Speaking on an earnings call, Taneja confirmed reports that the company is working on an expansion into India, adding that it would be a great market to enter, thanks to its "big middle class." Nevertheless, India is also "a very hard market," with EV imports into the country subject to a 70% tariff and about 30% luxury tax, he said, noting that this could make India-sold Tesla's twice as expensive, he said. "That's why we've been very careful trying to figure out when is the right time... these kinds of things create a little bit of tension, which we are trying to work out," he added. India has signaled interest in Tesla setting up a base in the country, though the country's protectionist policies present some obstacles for the EV maker. Taneja's statements come just days after Tesla CEO Elon Musk spoke with Indi ... Read full article.