According to a report, the Indian government is working diligently to facilitate Tesla Inc.’s entry into the Indian market by obtaining necessary approvals from relevant departments by 2024 in india. Since some time now, the company has been in discussion with Prime Minister Narendra Modi’s government about expanding its presence in the Indian electric vehicle manufacturing industry. In the electric vehicle industry, Tesla’s supply chain ecosystem in India offers a promising opportunity for growth.
It was reported in early September that the Elon Musk-led EV manufacturing firm had developed a plan to manufacture and sell battery storage systems in India. To establish destructive testing for specific components and testing tracks for all vehicles in India, the EV maker has sought benefits from the Centre.
According to Reuters, CIM Piyush Goyal had stated that Tesla is planning to source components worth .9 billion from India in 2023, up from billion last year.
In an effort to reduce import taxes for automakers committed to local production, the Centre is working on its EV policy.
“Everything we have done has been done equally without any differentiation, without any preferences,” the CIM had stated in this regard.The government provides equal opportunities to everyone. We will draft a policy that will be consulted with all stakeholders – SIAM and ACMA – both will play an important role in helping us draft a good policy,” he had added.
In early 2023, Tesla proposed providing support for the country’s battery storage capabilities with its “Powerwall” system, which stores power for use at night or during power outages from solar panels.
For the Indian market and export, the EV manufacturer intends to develop a low-cost EV priced at ,000 – nearly 25 percent less than its current entry-level model.
Elon Musk announced his plans to visit India in 2024 during Modi’s US visit in June and Tesla may also arrive in india by 2024.
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