'Build Indigenously, Attract Global OEMs': Ola CEO Bhavish Aggarwal Opposes Musk's Call For Import Duty Reduction In India

Tarkesh Jha

Jul 28, 2021, 02:13 PM | Updated 02:13 PM IST

OLA CEO Bhavish Aggarwal
OLA CEO Bhavish Aggarwal

Ola Cabs founder-cum-CEO Bhavish Aggarwal has opposed Tesla CEO Elon Musk’s calls regarding reduction on duties for imported electric cars.

Replying to a Twitter user earlier this week, Musk had said that import duties in India are highest in the world and he asserted that clean energy vehicles (EVs) are treated on par with diesel and petrol in India.

His view found the backing of Hyundai Managing Director (MD) S S Kim, who mentioned that lower duties would enable the growth of the EV market in India.

However, Aggarwal expressed strong disagreement with the given viewpoint and instead put his weight behind maintaining confidence in building EVs indigenously and also enticing international original equipment manufacturers (OEMs) to do so too.

“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,” the Ola CEO wrote on Twitter.

Aggarwal is certainly leading the light for indigenous production of EVs in India as well, with Ola Electric’s e-scooter’s pre-launch garnering as many as 100,000 bookings within 24 hours itself.

Earlier, Ola had announced an investment of Rs 2400 crore in establishing its first e-scooter factory in Tamil Nadu, the first phase of which was nearing completion last month.

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