Tesla: Tesla is preparing to take a significant step in its plans for India as its representatives are scheduled to meet India’s Commerce Minister Piyush Goyal this month.
The focus of the discussion will be on the company’s ambitious plan to build a factory in India to produce the all-new Electric Vehicle (EV) priced at $24,000.
The proposed plant will cater to the demand of affordable EVs in the domestic market and will also act as an export hub.
“The $24,000 EV described by Tesla representatives during discussions about a potential Indian plant is expected to be 25% cheaper than the company’s current lowest-priced offering, the Model 3 sedan. In China, the Model 3 costs just over $32,200,” Reuters reported.
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A key meeting between Tesla and India’s commerce minister marks the most significant level of discussion between the company and the Indian government since Tesla CEO Elon Musk met Prime Minister Narendra Modi in June. During that meeting, Musk expressed his strong commitment to make substantial investments in India.
Earlier this year, in May, Tesla executives visited India and held constructive talks with government officials about setting up a manufacturing base for both cars and batteries in the country.
As the discussions continue, the focus will be on building a robust electric vehicle (EV) supply chain and finalizing the allotment of suitable land for the factory location.
Tesla’s interest in building the factory in India is in line with the push towards electric mobility and green initiatives in the country.
The Government of India is actively promoting EV adoption and manufacturing to reduce emissions and combat climate change.
A local Tesla factory will not only boost the EV market in India but also generate employment and contribute to the country’s economic growth.
All eyes are on the outcome of the meeting with the Commerce Minister and possible developments in Tesla’s journey to establish a strong presence in the Indian market.