Elon Musk hints at Tesla's entry into the Indian market, exploring opportunities in multiple states and planning to establish a factory. Further, Musk announces the unveiling date for Tesla's robotaxi.
Will Tesla ever make it to India? At last, Elon Musk has answered the most often asked question. Musk was reported as stating, "The natural progression is to provide Tesla electric vehicles in India".
There have been earlier rumors that Tesla is searching India for a possible site for its manufacturing. According to reports, Tesla received land bids from Gujarat and Maharashtra to establish the facility.
The Tesla team is investigating potential in many Indian states, with a particular emphasis on Maharashtra, Gujarat, and Tamil Nadu, which are currently home to a large number of auto manufacturing plants. They are operating in a very competitive market at a time when few people are purchasing electric vehicles. So, Tesla didn't sell as many cars as expected in the first three months of this year.
However, India has now agreed to reduce taxes on a certain number of electric vehicles produced by businesses who promise to make large financial investments and begin producing vehicles in India within three years. For some time now, Tesla has been attempting to enter the Indian market. The Indian government stated that automobiles had to be manufactured here as well as sold here.
For about a year now, Tesla has been in communication with Indian government authorities. Even Elon Musk met with Prime Minister Narendra Modi in June of last year. Tesla announced in July of last year that it intended to establish a plant in India to produce cars that would retail for about Rs 17,30,000.
In related news, Musk disclosed the date of the Tesla robotaxi's release. On Saturday, he announced the news on his platform X, which was once known as Twitter, saying, "Tesla Robotaxi unveil on 8/8." According to Market Watch, Tesla's shares increased by about 4% to $171.19 during extended trading on Friday as a result of this news.