Bhavish Aggarwal, CEO of Ola Cabs, takes on Elon Musk over the EV duty reduction

Tesla’s demand for a reduction in tariffs on imported electric vehicles has provoked a response from other CEOs. Bhavish Aggarwal, the founder and CEO of Ola Cabs, stated on Tuesday that he was opposed to the government lowering the levy on imported electric vehicles. After news that Elon Musk’s Tesla Inc had sought a lower tariff on imported EVs, Aggarwal’s comments went viral on the microblogging platform Twitter.

In an interview with Autocar India, Kim, the managing director of Hyundai India, lent his voice in support of Tesla on the duty cut issue. “Lower duties will aid in the growth of the electric vehicle market,” Kim told the publication.

In response to the two industry giants, Aggarwal stated that India should have faith in its own capabilities to manufacture EVs. ‘’I completely disagree with both of them. Let us have faith in our potential to build locally and to persuade global OEMs to develop in India rather than rely on imports. He tweeted, “We won’t be the first country to do so.”

The dispute over EV import duties comes as India’s young EV business receives much-needed governmental support from the Centre and state governments. With some of the world’s most polluted cities, the government is promoting electric vehicles to reduce pollution and lower fossil fuel import costs. Ola Electric is a newcomer to the electric vehicle market. In just 24 hours, the pre-launch of the e-scooter drew nearly 100,000 reservations. The company’s first product, which costs Rs 499, went on sale to the general public two weeks ago.

Tesla Inc., which plans to launch in India this year, has written to the government requesting a 40% decrease in EV import taxes. According to Reuters, which cited sources, the measure might raise demand and produce income for the government. If the government does really lower the import duty on electric vehicles, it is likely to open the floodgates and pave the way for a slew of new models in the premium segment. Mercedes-Benz India, Audi India, and Jaguar Land Rover have all debuted electric vehicles in India. The Kona electric is sold by Hyundai, whereas the ZVS is sold by MG.

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