Paytm founder and CEO Vijay Shekhar Sharma wishes to own a Tesla car but has a condition -- he wants the company's CEO Elon Musk to set up a factory in India.
Sharma, one of India's youngest billionaires with a net worth of US$2.3 billion, said, "Even though I am waiting for a Tesla, I will love that we have everyone's factories in India."
Last year, Sharma had posted a news clip of Tesla overtaking Toyota as the world's most valued carmaker. He had tweeted, "What a motivating underdog success story! After so many naysayers and people attempting to pull @elonmusk down, he has proven what he is made of! Second only to Steve in pulling his company from near bottom to top of the industry and loved by users."
What a motivating underdog success story! 🌟After so many naysayers and people attempting to pull @elonmusk down, he has proven what is he made of !Second only to Steve in pulling his company from near bottom to top of industry and loved by users. 👏🏼एक दिन, अपना टाइम आएगा ! pic.twitter.com/ba1UI9UlGe— Vijay Shekhar Sharma (@vijayshekhar) July 1, 2020
Sharma's latest statement comes two days after Musk said that he wants to launch Tesla's electric cars in India but the country’s import duties which are “highest in the world by far for any large country” are proving to be a hurdle. Musk added that India should consider lowering import duties on electric vehicles and Tesla even wrote to the ministries concerned here.
Echoing Musk's sentiment, Seob Kim, CEO, Hyundai Motor India, said, “We have heard that Tesla is seeking some duty cut on imports of CBUs (Completely Built Up vehicles). So that would be very helpful for the OEMs to reach some economy of scale in this very price competitive segment.”
Lower duties will help grow the EV market in India, Kim said.
However, Ola CEO Bhavish Aggarwal “strongly disagreed with them”. “Let’s have confidence in our ability to build indigenously and also attract global OEMs to build in India, not just import. We won’t be the first country to do so!" he said.
Strongly disagree with both. Let’s have confidence in our ability to build indigenously and also attract global OEMs to build in India, not just import. We won’t be the first country to do so! https://t.co/n6k7ShYeJX— Bhavish Aggarwal (@bhash) July 27, 2021
At present, India imposes 100 percent import duty on fully imported cars that are valued (including cost, insurance and freight) more than US$ 40,000. The import duty on fully imported cars that cost less than US$ 40,000 is 60 percent.