Exclusive | Amitabh Kant: If BYD can take on Tesla, why can’t Tata and Mahindra?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Expressing his optimism about the future of the electric vehicle (EV) market in India, Amitabh Kant, India’s G20 Sherpa and former CEO of NITI Aayog stated, “I’ll be truly delighted if the new EV policy leads to many Indian companies, such as Tata and Mahindra, challenging Tesla in the market and even surpassing it both domestically and internationally.”

In an exclusive interview with CNBC-TV18, Kant said he believes that by 2047, India will provide almost 30% of the world’s skilled manpower. He emphasised the need for increased competition among the states.

Kant’s statement comes just days before the highly anticipated Indian visit of Tesla CEO Elon Musk as the global EV leader battles a slowdown in its key markets, the US and China. The Indian government is hopeful that Tesla’s investment will help position the country as a hub for EV manufacturing.

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Kant also pointed out the potential of Indian companies to compete with global giants like Tesla. He said, “It’s quite possible. If BYD can take on Tesla, people don’t realise that BYD controls the EV market. These are companies that should all think globally. Once you start thinking global, you will penetrate global markets, but you will do a lot of good to the Indian consumers.”

Kant stated that Tesla would face stiff competition in India and it will do good to customers.

“The Indian consumer is going to benefit in a big way because there will be competition as far as electric vehicles are concerned. And competition will lead to better products and it’ll lead to prices coming down for electric vehicles.”

Kant also highlighted the need to support two-wheelers and three-wheelers, which comprise 70% of the Indian market. Kant had recently stated that combustion vehicles will eventually die out and the future will be dominated by electric vehicles charged with renewable energy.

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While pointing out the challenges in the Indian market, such as the high import duty on automobiles, Kant praised the government’s strategic move to reduce the import duty.

“We are going to reduce the import duty so that you can bring vehicles and test out the Indian market. But we’ll do it only if you will, in the long run, do manufacturing in India, the import should actually lead you to manufacturing in India, that’s the objective. So it’s strategically a very good move.”

Kant emphasised the need for a large number of charging stations in India and commended Tesla for opening up its IP for the charging stations, making them interoperable.

“The good thing is that Tesla has opened up its IP for the charging stations and made it interoperable. Several other vehicles can also get charged on the Tesla charging stations.”

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow