Tesla to set up EV factory in India

Tesla is considering utilizing India as a base for exporting cars to countries in the Indo-Pacific region

July 13, 2023

The proposed factory is expected to have an annual production capacity of nearly 500,000 electric vehicles

The vehicles are expected to start from INR 20 lakhs

Tesla also plans to bring its auto parts and electronics supply chain to India

The Indian government is aiming to negotiate a favourable deal while ensuring fair competition

Tesla, the renowned Electric Vehicle (EV) manufacturer led by Elon Musk, is currently engaged in discussions with the Indian government regarding an investment proposal to set up a car factory in India.

The proposed factory is expected to have an annual production capacity of nearly 500,000 electric vehicles, offering prices starting from INR 20 lakh.

According to media reports, Tesla, which already holds a significant presence in China with its manufacturing facilities, is also considering utilizing India as a base for exporting cars to countries in the Indo-Pacific region.

The reports added that Tesla has also held discussions with union government officials to explore the possibility of bringing its auto parts and electronics supply chain to India.

Industry experts have noted that Tesla’s ambitious plan has been presented to the government, and there is confidence that the proposal will receive approval this time, especially considering its focus on local manufacturing and exports. The Commerce and Industry Ministry is leading the talks, and the government aims to negotiate a favourable deal while ensuring fair competition.

Source:Times of India

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