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

Group 1 - Tesla is cautiously exploring entry into the Indian market, citing the potential of a large middle class but also acknowledging significant challenges such as high tariffs and luxury taxes [1][2] - The company is facing a 70% tariff on EV imports and an additional 30% luxury tax, which could result in Tesla vehicles being priced twice as high in India [1][2] - Recent discussions between Tesla CEO Elon Musk and Indian Prime Minister Narendra Modi indicate interest in collaboration on technology and innovation, although protectionist policies in India pose obstacles [2][3] Group 2 - The Indian government has proposed a new policy that could reduce EV tariffs from 70% to 15% for companies that localize manufacturing, although experts warn that price pressures would still exist under this scheme [3][4] - Tesla reported disappointing first-quarter results, with a 20% year-over-year decline in automotive revenue and a 71% drop in net income [5]