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home / news releases / FFIE - EV watch: Tesla eyes India opportunity Lucid Motors and Faraday start trading

FFIE - EV watch: Tesla eyes India opportunity Lucid Motors and Faraday start trading

Faraday Future Intelligent Electric Inc.
metamorworks/iStock via Getty Images The electric vehicle sector keeps buzzing along as SPAC deals and IPOs help pour fresh money into technology and development. The EV push continues to expand globally. In what could be a significant development, Tesla (TSLA) CEO Elon Musk says it is quite likely the company will have a plant in India if it is successful in its bid to begin sales with imported vehicles and sees tariff relief. Musk notes import duties in India are the highest in the world by far of any large country and says it is inconsistent with the nation's climate goals for clean energy vehicles to be treated the same as diesel or petrol vehicles. The upside for Tesla in India is enormous if the EV market takes off. Electric vehicles currently account for less than 1% of new passenger vehicles and two-wheeler sales in India, according to Bloomberg. Sector

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EV watch: Tesla eyes India opportunity, Lucid Motors and Faraday start trading
Stock Information
Company Name: Faraday Future Intelligent Electric Inc.
Stock Symbol: FFIE
Market: NYSE
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