Tesla executives meet Invest India officials to discuss entry plans
Tesla executives recently met officials from India's investment promotion division, Invest India to discuss the automaker's plans to enter the market. The meeting focused on Tesla's proposal to build a facility that would manufacture a low-cost EV priced at $24,000 (around Rs. 20 lakh). It would be 25% cheaper than Tesla's current entry-level model and would be built locally for domestic and export markets.
Government demands local manufacturing for benefits
Tesla representatives are soon expected to meet with commerce minister Piyush Goyal to discuss setting up an EV supply chain and land allotment for a factory. The Centre has made it clear that Tesla must manufacture its cars in India to avail of any benefits. This has been a sharp reversal for the automaker, which had been reluctant to invest in the country wholeheartedly.
Many states are inviting Tesla to set up its plant
Tesla's plans to manufacture a low-cost EV in India could have significant consequences for its market share here. Many states are keen to woo Tesla to set up its plant in their region, but the firm is currently focused on discussing its proposal with the Centre. Tesla executives Rohan Patel and Roshan Thomas have not divulged details of their meeting with Invest India.
