Tesla EV in India at Rs. 20 lakh: Here's how
After getting delayed for a long time, US-based EV maker Tesla has finally initiated discussions with the Indian Government, to set up its manufacturing facility on our shores soon. The proposed factory will have a production capacity of up to five lakh units annually. Apart from this, the automaker is planning for an Rs. 20 lakh (ex-showroom) starting price tag for its EVs here.
Why does this story matter?
Elon Musk-led Tesla has been known for pushing the boundaries in the EV segment with capable offerings such as the Model S and Model X. After multiple failed attempts over the past few years, the automaker has now started discussions with the Centre to officially enter the Indian market. Setting up a manufacturing plant here would generate jobs and boost the economy.
Tesla had planned to enter India in 2019
Tesla had plans to enter the Indian market in 2019, the same year it started manufacturing at the Gigafactory in Shanghai. However, it put all plans on hold owing to the high import duties on vehicles brought via the Completely Built Unit (CBU) route on our shores. Another major contributing factor was the global pandemic that started at the end of 2019.
Discussions have been re-initiated after meeting with PM Modi
After the recent meeting between PM Narendra Modi and Musk, the latter confirmed that Tesla cars will arrive on Indian roads soon. In the latest development, the discussions to set up Tesla's factory have been re-initiated.
It would generate jobs and boost the Indian economy
Setting up a manufacturing facility with an annual production capacity of up to five lakh units will prove beneficial for both Tesla and India. It will generate more jobs on our shores and also boost our economy by facilitating business. Apart from this, the electric car segment in India might also witness rapid growth with the entry of the world's largest EV maker.
Modi really cares about India: Musk
After the meeting, Musk said, "He (PM Modi) really cares about India and he's pushing us to make significant investments over here." Musk referred to himself as a "fan of Mr. Modi" and expressed his belief that our country holds great potential and opportunities.
