Coming soon... Tesla factory in India; electric car prices to start at Rs 20 lakh - Report
By Team Newsable | First Published Jul 13, 2023, 12:51 PM ISTTesla has reportedly started discussions with the Indian government for an investment proposal to set up a car factory in the country, with an annual capacity of as many as 500,000 electric vehicles.
Tesla has entered into discussions with the Indian government regarding an investment proposal to establish a car factory in the country, according a latest report in Time of India. The proposed factory would have the capacity to manufacture up to 500,000 electric vehicles annually. The report also mentioned that the prices for these electric vehicles would start from Rs. 20 lakh.
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Tesla, led by billionaire Elon Musk, is reportedly considering India as an export base, with plans to ship cars to countries in the Indo-Pacific region, as per government sources cited in the report. Indian Prime Minister Narendra Modi urged Musk to make a significant investment in the country during their meeting last month.
During a meeting with PM Modi in June, Musk expressed his confidence in Tesla's presence in India and stated their intention to invest in the country as soon as possible. He emphasized the potential of India, describing it as having more promise than any other large country in the world. Musk also mentioned his plans to visit India next year and expressed his interest in bringing Starlink satellite Internet service to the country.
"I am confident that Tesla will be in India and will do so as soon as humanly possible," Musk had said when asked by reporters about Tesla's plan to invest in India, adding he intended to visit the country next year.
"India has more promise than any large country in the world. He (PM Modi) really cares about India because he's pushing us to make significant investments in India, which is something we intend to do. We are just trying to figure out the right timing," Musk had added.
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In May, Tesla executives visited India and engaged in discussions with Indian bureaucrats and ministers to explore the establishment of a manufacturing base for cars and batteries in the country. These talks align with Tesla's ambition to expand its global manufacturing operations and tap into the growing electric vehicle market in India.
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