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Tesla is nearing a deal with India

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Tesla-India deal

Tesla is nearing a deal with India to import cars starting next year and establish a production facility within two years, i.e., by 2025.

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Vibrant Gujarat summit

The announcement may occur at the Vibrant Gujarat Global Summit in January, with Gujarat, Maharashtra, and Tamil Nadu as potential locations.

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$2 billion investment

Tesla plans to invest around $2 billion initially and aims to produce batteries in India to reduce costs. No final decision has been reached yet.

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Modi's clean transport

The US-based EV maker's entry into India's growing market aligns with Prime Minister Narendra Modi's push for cleaner transportation.

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Affordable local EVs

Tesla's locally produced vehicles could be priced as low as $20,000, while India considers reducing import taxes for international EV manufacturers committing to local factories.