The Elon Musk-led carmaker is finally set to enter the Indian market, a move it has delayed for years citing the country's high tariffs on imported EVs

India's tussle with the German auto giant puts the spotlight on issues foreign firms face as they look to expand in the country, including long legal battles and sky-high tariffs

Asian economies are particularly vulnerable to torrential rains and storms, which can make up for 80% of the extreme weather events in the region

The launch will be the first by an Indian electric vehicle maker in a country where adoption of clean vehicles is still low

The electric-vehicle maker will focus its hunt on Indian states with automotive hubs such as Maharashtra, Gujarat and Tamil Nadu

One of the primary motivators for India to reduce the EV import tax had been Tesla’s interest in building a factory in India

India has emerged as one of the biggest destinations for global investments as firms across the globe rush to diversify their supply chains from China

The move is part of VinFast’s increasing efforts to expand its overseas footprint, while for India its a boost for the country's efforts to get EV makers to manufacture at home

Elon Musk has reportedly demanded the concession in return for building a new production plant in a car market dominated by low-cost vehicles

New Delhi will move slowly in considering the tax cut as any lowering of taxes on imported EVs could disrupt the market and upset local players, sources said

"Security concerns with respect to Chinese investments in India" led officials to decline the EV-maker's proposal, a report by the Economic Times said

This will be Tata’s first gigafactory outside of India and will have the capability to produce an initial output of 40 gigawatt hours