Tesla has begun talks with the Indian government about a proposed investment to establish a car factory there, with a potential annual capacity of up to 500,000 electric vehicles. The starting pricing for electric automobiles would be Rs. 20 lakh.
Tesla did not reply right away when Reuters asked for a comment.
An article by the Times of India, which cited government sources, claimed that the business run by billionaire Elon Musk is also considering utilising India as an export hub as it prepares to transport cars to nations in the Indo-Pacific area.
Indian Prime Minister Narendra Modi pressed Elon Musk to make a “significant investment” in India during a meeting they had last month.
Following a meeting with PM Modi in New York, Musk had stated in June that the electric car manufacturer is aiming to invest in India “as soon as humanly possible.”
Musk, who is also the CEO of SpaceX, had previously stated the company intends to extend Starlink satellite Internet service to India.
In May, Tesla executives travelled to India to discuss setting up a base for producing vehicles and batteries there with Indian ministers and bureaucrats.
“I am confident that Tesla will be in India and will do so as soon as humanly possible,” Musk had said when asked by reporters.
“India has more promise than any large country in the world. He (PM Modi) really cares about India because he’s pushing us to make significant investments in India, which is something we intend to do. We are just trying to figure out the right timing,” Musk had added.
