Report: Tesla in Discussions with Indian Government to Establish Factory, Electric Car Prices to Begin at Rs. 20 Lakh
The company led by Elon Musk is also considering India as a potential hub for exports.
According to a report from the Times of India, Tesla has initiated talks with the Indian government regarding an investment plan to establish a car manufacturing facility in the nation. The proposed factory aims to have an annual production capacity of up to 500,000 electric vehicles.
The report also mentioned that the starting price for the electric vehicles would be Rs. 20 lakh. However, when approached for comment, Tesla did not promptly respond to Reuters’ inquiry.
According to government sources cited in the report, the company led by billionaire Elon Musk is exploring the possibility of utilizing India as a strategic export hub. The plan involves shipping cars to nations in the Indo-Pacific region.
During a recent meeting between Indian Prime Minister Narendra Modi and Elon Musk, the car maker was encouraged to make a substantial investment in the country, according to the news report.
Following a meeting with Prime Minister Modi in New York, Elon Musk expressed in June that the electric car manufacturer is eager to invest in India “at the earliest opportunity.”
When questioned by reporters about Tesla’s investment plans in India, Musk stated, “I am confident that Tesla will establish its presence in India, and we aim to do so as expeditiously as possible.” He further mentioned his intention to visit the country in the upcoming year.
Musk added that India holds more potential than any other major country in the world. He acknowledged Prime Minister Modi’s genuine concern for India by emphasizing that he is actively encouraging substantial investments in the country. Tesla intends to make such investments in India; however, the company is currently assessing the optimal timing for these endeavors.
In addition, Musk, who serves as the CEO of SpaceX, expressed the company’s aspiration to introduce the Starlink satellite Internet service in India.
In May, representatives from Tesla visited India and engaged in discussions with government officials and ministers regarding the establishment of a manufacturing facility for cars and batteries in the country.
