EEC Says No Duty on EV Imports to Russia in 2014; Could be Boon for Tesla (TSLA)
According to Russia's Vedomosti, the Eurasian Economic Commission has approved a proposal to waive a 19 percent import duty on electric cars, which will take effect in 2014.
Though it isn't completely clear what Tesla's plans for a Russian expansion are, the company is likely to want to eventually start selling its wares there. Current plans in Europe call for expansion of the company's Supercharger network in the U.K., German, and Norway by the end of 2014.
PricewaterhouseCoopers (PwC) recently said that the Russian Electric Vehicle (EV) market will rise from 1.7 percent in 2011 up to 6.4 percent by 2020.
Shares of Tesla are down 1.7 percent Thursday.