Elon Musk hinted today that Tesla could soon offer electric vehicles in India.
His statement follows reports suggesting Tesla is looking for a location to build its factory in India.
According to sources quoted by news agency ANI, Maharashtra and Gujarat have offered attractive land deals to Tesla for setting up an electric vehicle manufacturing plant. Telangana government is also reportedly discussing similar plans with the EV giant.
The proposed plant, expected to cost between USD 2 billion to USD 3 billion, aims to meet both local and global demand for Tesla’s electric vehicles.
Earlier this year, the Indian government announced a new EV policy, making way for Tesla’s potential entry into the country.
The policy aims to attract investments from global EV manufacturers, promote advanced EV technology adoption among Indian consumers, and support the Make in India initiative.
To encourage local manufacturing, the policy sets a minimum investment requirement and mandates increasing domestic value addition over time.
For vehicles priced at USD 35,000 or more, a customs duty will be imposed for five years unless the manufacturer establishes manufacturing facilities in India.
Tesla’s arrival in India is expected to bring economic benefits, create jobs, and strengthen the country’s manufacturing sector.
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