Tesla, Elon Musk’s premium automobile company is said to be entering the Indian market and will start rolling out its range of vehicles in India soon. It has been reported that the Centre is working on ramping up the process and providing the necessary approvals from the concerned departments by January 2024 for its entry into the country, media reports said on Tuesday.
As per the recent reports, the Prime Minister's Office (PMO) conducted a meeting which states that top officials are reviewing the upcoming phase of electric vehicle (EV) manufacturing in India, including Tesla's investment proposal.
The Union Ministries of Commerce and Industry, Electronics and Information Technology, and Heavy Industry have been in discussions about the plans of Tesla in India, following a meeting between Prime Minister Narendra Modi and Elon Musk during the state visit to the United States in June.
In September, a report surfaced stating that Tesla is planning to build a factory for battery storage in the country and has submitted a proposal for the same to the Indian government.
The electric carmaker has proposed supporting India’s battery storage capabilities with its ‘Powerwall’ during Musk’s recent meetings.
Musk is further aiming to build a Tesla supply system in the country.
The EV major has been planning to source the automobile parts worth up to USD 1.9 billion this year (2023) from India, the Union Commerce Minister Piyush Goyal said.
The minister said that Tesla had already bought USD 1 billion worth of components last year (2022) from India and this year (2023) their target is between USD 1.7 to USD 1.9 billion.
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Inputs from IANS
