Microsoft Reportedly Plans New Job Cuts Across Sales, Consulting, and Xbox 
SoftBank Shares Slide as OpenAI IPO Delay Concerns Weigh on AI Investment Outlook 
Anthropic Tightens AI Access Controls After Reports of China-Based Workarounds 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
Smartphones are helping filmmakers tell the stories the movie industry overlooks 
Super Micro Employees Detained in Taiwan AI Server Export Investigation 
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 
Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain 
Apple Challenges India Antitrust Probe, Says CCI Copied Rivals’ Claims in App Store Case 
Baige Online Shares Soar 333% in Hong Kong IPO Debut as AI Insurance Demand Lifts Chinese Listings 
Baidu Shares Rally as Kunlunxin Eyes $50 Billion Hong Kong IPO 
ShareChat Eyes 2027 IPO After Reaching Operational Profitability, Report Says 
South Korea Alleges Google Abused Android App Store Dominance, Eyes Major Fine 
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
Super Micro Shares Slide After Taiwan Raids Over Alleged Nvidia AI Chip Smuggling Probe 
TSMC CoWoS Capacity Forecast Raised as Mizuho Sees AI Server CPU Demand Surging Through 2027 
Nvidia Stock Rises as SemiAnalysis Sees AI Data Center Revenue Beating Wall Street Forecasts 
The federal government has officially said that it is not contemplating any proposal to offer subsidies or exemptions for the import of electric vehicles into the nation, dealing a severe blow to Elon Musk's aspirations to establish Tesla's presence in the Indian market.
Indian Government Has No Plans to Provide Exemptions or Subsidies for EV Imports
Som Parkash, Minister of State for Commerce and Industry, said in a written response to a query on whether the government had any plans to exclude Tesla or any other foreign automaker from local value addition, according to Live Mint.
Parkash's response comes at a time when multiple media sources have suggested that Musk's Tesla and the Indian government were on the same page about granting tax incentives to electric vehicle manufacturers in exchange for committing to manufacturing in India.
Tesla and the Indian government had already been at odds for a year, according to Bloomberg. The electric vehicle manufacturer desired lower taxes in order to sell cars built overseas at competitive costs in India initially, while the Modi administration desired Tesla to begin producing cars domestically.
Tesla's Plans for Local Manufacturing Hinge on Import Duty Concessions
Following a meeting with Prime Minister Narendra Modi in June of this year, Musk stated that the Prime Minister pushed Tesla to make "significant investments" in India, which he intended to do. "I am confident that Tesla will be in India and will do so as soon as humanly possible," Musk furthered.
According to a recent Economic Times report, Tesla is prepared to set up a plant in India to manufacture electric cars only provided the government authorizes a 15% concessional levy on imported automobiles for the first two years of operations in India.
According to insiders, Tesla has addressed the Government of India about the investment the firm plans to make and the number of cars it may import at a cheaper tariff.
Photo: Alexander Shatov/Unsplash
