Tesla Will Start Manufacturing In India Soon
Tesla is rumored to be working on creating a facility in India capable of producing five lakh units per year and cater to large audience. The famous American electric carmaker, is considering creating a manufacturing plant in India, and its CEO, Elon Musk, has begun negotiations about it. The factory is likely to have a capacity of five lakh EVs per year. Several variants appear to be in the works, with the entry-level offering expected to cost Rs. 20 lakh. According to a report, the production plant would also transport the vehicles to overseas markets, namely in the Indo-Pacific area. It follows Musk’s meeting with Indian Prime Minister Narendra Modi during his recent visit to the United States. Previously, Tesla made multiple attempts to establish a business in India, but nothing has come to fruition.
A peek into Tesla’s plans for India
With Prime Minister Modi’s support, Tesla is undertaking an ambitious attempt to invest considerably in India. After initiating negotiations with the Indian government a few months ago, Tesla appears committed to exploring potential for local investments. Lack of specific tax breaks for automobile imports hindered Tesla’s attempts to sell cars in India last year, causing a setback. The Indian government is pressuring Tesla to develop a local manufacturing facility. The potential of India as the world’s fourth-largest car market is a compelling element in this choice, with the nation concluding last year with total volume sales of 3.9 million vehicles.
Tesla’s Price Range
Tesla’s diverse global lineup includes the Model 3, Model X, Model Y, and Model S, and the awaited Cybertruck. The Model 3 starts at $42,990 (Rs. 35.30 lakh). The Model X will be priced at $106,490 (Rs. 87.44 lakh). As the premium electric vehicle market continues to expand, Tesla’s entrance into India could make a bold impact, but the company’s official plans remain a mystery.