Abhitesh
The agreement to import American-made electric cars to India is set to be finalized between the Indian government and Elon Musk’s Tesla. Speculation has it that 2024 might be the year Tesla makes its debut in India.
Bloomberg said that India is getting closer to making a deal with Tesla Inc., which would let the US car company send cars to India. Under the terms of this deal, Tesla is also likely to build a factory in India in 2024.
A person talked to Bloomberg about how the deal could be announced at the Vibrant Gujarat Global Summit in January 2024. The states of Maharashtra, Tamil Nadu, and Gujarat are on Tesla’s list of possible places to build an electric vehicle (EV) plant.
Bloomberg claimed that Tesla would make an initial investment of USD 2 billion to set up shop in India and would like to buy up to USD 15 billion worth of auto parts from the country.
Sources also say that the plans aren’t set in stone yet and could change at any time. Elon Musk’s company wants to do business in Maharashtra and Tamil Nadu because they already have strong systems in place for exports and electric cars. Gujarat is being thought about because of how quickly infrastructure is being built up there.
Tesla Inc. plans to make batteries in the United States in order to cut costs and also ship EVs and car parts. Tesla has plants in the US, China, and Germany. The Modi government’s push for more electric vehicles (EVs) in India could bring in a lot of extra money for Elon Musk’s company.
India’s market for electric vehicles is still small. Last year, battery-powered cars made up only 1.3% of all passenger vehicles sold in the country.
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Tariffs on bringing Tesla cars into India can be very high, but if the cars are made in India, the prices could drop to as little as ₹15 lakh.
