Tesla held talks with Indian officials over incentives offered to car and battery makers who sell and export locally made vehicles and parts, Reuters reported on Thursday, citing a source with knowledge of the matter. The talks come after the US electric vehicle manufacturer proposed establishing a factory in the country to build EVs, with plans to manufacture EV batteries also discussed. The Indian government has set aside USD 6 bn under a program to boost the manufacturing and sale of EVs. Tesla is “still testing the waters and trying to understand the local policies,” the source said. The revival of the talks come a year after talks between Tesla and the Indian government faltered on the back of the EV maker’s focus on lobbying to lower import taxes on cars, which can be as high as 100%.

Spain’s Repsol to invest USD 550 mn in renewables in Italy: Spanish oil and gas company Repsol is looking to invest EUR 500 mn (c. USD 550 mn) to develop 1.7 GW of clean energy in Italy, executive managing director of the company’s low carbon division Joao Costeira told Reuters last week. Repsol is reportedly looking to allocate nearly a quarter of its capital spending to increase its renewables generation capacity from the current 2 GW to 6 GW within two years and up to 20 GW by 2030.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Boeing will roll out a data modeling tool to map out a path for the aviation industry for achieving carbon neutrality by 2050. The tool allows airlines and governments to adjust different variables — including the use of sustainable aviation fuels and electric planes — to see how these variables can help them achieve their net-zero goals. (Reuters)
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