tl;dr
Tesla is considering setting up an electric vehicle factory in India, but with the condition that the government approves a concessional duty of 15% on imported vehicles for the company's first two years of operations in the country, as reported by Economic Times. If the Indian government agrees ...
Tesla is considering setting up an electric vehicle factory in India, but with the condition that the government approves a concessional duty of 15% on imported vehicles for the company's first two years of operations in the country, as reported by Economic Times.
If the Indian government agrees to the reduced duty, Tesla is prepared to invest up to $500M for 12K vehicles and up to $2B for 30K vehicles. There are also reports that an agreement with India is close to being signed, allowing Tesla to ship electric cars to the nation in 2024 and establish a factory within two years. Potential locations for the factory include the states of Gujarat, Maharashtra, and Tamil Nadu, which already have established ecosystems for electric vehicles and exports.
In June, Tesla CEO Elon Musk announced plans to make a significant investment in India and discussions with Prime Minister Narendra Modi about establishing an electric vehicle factory. The company also proposed to support India's battery storage capabilities with its Powerwall system. Despite the potential expansion into India, Tesla's stock slipped 0.22% in premarket action.
More about Tesla Inc
Key Financial Metrics: Tesla Inc. had total sales of $744,534,835,000 in 2020, with a net profit margin of 3.09% and total assets of $959,240,030,000. The company's stock price was $744.90, with a price-to-earnings ratio of 75.8 and a dividend yield of 0.112%.
Stock Performance: Tesla Inc. had a stock price of $744.90 in 2020, with a net profit margin of 3.09% and a price-to-earnings ratio of 75.8. The company's stock performance has been strong, with positive growth and high market valuation.
Market Sentiment: Tesla Inc. has captured a significant portion of the plug-in and battery-electric vehicle market, with 16% and 23% market shares, respectively. The company is also a major installer of solar energy generation systems and a leading supplier of battery energy storage systems. This diversification and strong market position have contributed to positive market sentiment for Tesla Inc.
More about Li Auto Inc
Key Financial Metrics: Li Auto Inc. is a company that designs, develops, manufactures, and sells smart electric SUVs in China. In the manufacturing and motor vehicles & passenger car bodies sectors, the company generated $40,779,230,000 in revenue and had a net income of $997,691,060,000. The stock performance shows a price of $176.91 per share, with a change of 0.23 and a market capitalization of $101.73. The market sentiment for Li Auto Inc. is at 0.0632 with a price/earnings ratio of 54.22 and a change of -0.17.
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