The Indian market is showing increasing interest in the business prospects of automobile company Tesla. This is evident from Tesla’s plan to purchase auto parts worth 1.7 to 1.9 billion dollars from India. Central Minister of Commerce and Industry, Piyush Goyal, shared this information, stating that Tesla had already imported components worth 1 billion dollars from India last year.
Goyal’s statement comes at a time when Tesla is in talks with the government about establishing manufacturing facilities for affordable electric vehicles (EVs) in India. Tesla aims to produce a new EV with a price tag of approximately 2 million rupees, making it about 25% more affordable compared to its current entry-level model.
Tesla is currently the largest global electric vehicle manufacturer, with a range of successful electric vehicles that have gained recognition in the global market. The company has also made significant advancements in electric car technology, enabling its vehicles to be capable of self-driving. Now, the company is making headlines for importing a considerable number of auto parts from India.
This information was revealed by Piyush Goyal during a meeting of the Automotive Component Manufacturers Association (ACMA), where he mentioned that Tesla plans to import auto parts worth around 1.9 billion dollars from India, following their import of approximately 1 billion dollars’ worth of auto parts last year.
Summery:
– Tesla is planning to purchase auto parts worth 1.7 to 1.9 billion dollars from India.
– Central Minister Piyush Goyal provided this information and mentioned that Tesla had imported components worth 1 billion dollars from India last year.
– Tesla’s strategy indicates a desire to establish local manufacturing in the country.
– The company aims to produce a new EV with a price of around 20 lakh rupees, making it approximately 25% more affordable compared to its current entry-level model.
– Tesla is currently the largest electric vehicle manufacturer in the global market and has established a strong identity in the field of electric car technology.
– The Indian government has emphasized the need for Tesla to focus on local manufacturing before considering any tax incentives.
– The plans for importing auto parts from India were discussed during Tesla’s visit to the country in May, which was followed by a meeting between PM Modi and Elon Musk in June.
– These developments indicate Tesla’s increasing interest in expanding its business in India.
