Tesla Inc has indicated that it plans to expand into the Indian market, which is among the biggest emerging car markets in the world. If the taxes on import duties are lowered, Tesla Inc may set up a factory in the country. Whether this will happen remains to be seen, but what needs to be noted is that the global auto maker has perceived India as a destination for electric vehicle (EV) investments. EVs have gained traction in India – leading companies such as Kia India, Tata Motors, Mercedes-Benz India, Audi India and Maruti Suzuki India have plugged in their EVs in the country.
In retrospect, having an electric car was like trying to maintain a white elephant: EVs were priced high and hardly offered fuel efficiency. Given the proliferation of EVs, it’s obvious that this perception has changed. It could improve further as the country is committed to sell only EVs by 2030. The government is clear cut in its aim to generate energy from non-fossil sources...