Elon Musk, CEO of Tesla, is expected to announce the EV maker’s India debut during the Vibrant Gujarat Summit in January next year. According to repor
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Elon Musk, CEO of Tesla, is expected to announce the EV maker’s India debut during the Vibrant Gujarat Summit in January next year. According to reports, negotiations are at a final stage for its manufacturing plant in the state.
Tesla could launch in India as soon as January next year. Reports claim that the world’s largest electric vehicle manufacturer may announce its India debut in January, 2024 during the Vibrant Gujarat Summit to be held in Gandhinagar. The Summit will be the 10th edition of the annual global gathering of investors interested in the state. Elon Musk, CEO and founder of Tesla, is likely to make appearance to announce the EV maker’s entry to India. According to reports by several media organisations in the state, the EV maker is in the final stages of negotiating with the government for land to set up its manufacturing facility.
Tesla had earlier hinted that it is reconsidering its India investment plans after Prime Minister Narendra Modi’s last visit to the United States earlier this year during which he met Elon Musk. Tesla changed its position of not investing in India due to high import duties on electric cars which became a deal-breaker for the US-based EV maker about a year ago. Recently, Union Minister Piyush Goyal also visited one of the Tesla facilities in the US.
According to reports published by Gujarat Samachar and other state media outlets, Tesla is likely to set up its manufacturing facility in Sanand. This is the same place where carmakers like Tata Motors. Gujarat is also home to some of the other Indian carmakers like Maruti Suzuki and MG Motor.
The reports suggest that Tesla is expected to sign a Memorandum of Understanding at the Vibrant Gujarat Global Summit. The EV maker had earlier said that is keen to start a battery manufacturing plant in India in addition to electric cars. The carmaker had also hinted that it could finalise the location for its manufacturing plant in India by the end of this year. Several other states have also been vying to invite Tesla to invest including Karnataka, Maharashtra, Tamil Nadu and Telangana.
Reports suggest Tesla is eyeing Gujarat not only for lands but for access to ports to export its EVs to other countries too. The proximity of the Kandla-Mundra port in Gujarat from places like Sanand could help the EV maker. Though Sanand has not been finalised yet as the location for Tesla’s upcoming India manufacturing plant, the state government had also reportedly offered lands in places like Becharaji and Dholera.
Tesla does not sell its electric cars in India due to high import duties. However, Musk admitted that India has a strong potential for electric vehicles and battery technology. Globally, Tesla offers some of the top-selling electric cars like Model 3, Model S, Model Y and Model X.
First Published Date: 28 Dec 2023, 14:16 PM IST