Tesla’s Plans for $24,000 Electric Car Factory in India: High-Level Talks with Commerce Minister Scheduled
New Delhi, July 24 – Tesla is set to hold crucial discussions with India’s commerce minister this month to explore the prospects of building a factory that will produce a groundbreaking $24,000 electric car, as per a reliable source acquainted with the matter, revealed to Reuters.
The American electric vehicle manufacturer, Tesla, has shown keen interest in establishing a manufacturing unit in India with a primary focus on producing cost-effective electric vehicles specifically for the local market and potential exports. The source added that the proposed factory would be dedicated to the production of the new, affordable electric vehicle. This meeting with the commerce minister marks a significant milestone, representing the highest level of engagement between Tesla and the Indian government since June when Elon Musk, the CEO of Tesla, met India’s Prime Minister, Narendra Modi, and expressed his commitment to making substantial investments in the country.
The anticipated EV, valued at 2 million rupees ($24,000), is expected to be priced 25% lower than Tesla’s current most affordable option, the Model 3 sedan, which retails for slightly over $32,200 in China.
Recent reports by The Times of India newspaper disclosed Tesla’s ambitious goal of introducing a $24,000 electric car, emphasizing the company’s efforts to make electric vehicles more accessible to the masses.
Despite the news coverage, Tesla remains tight-lipped and has not yet commented on the reported target price.
Earlier in May, Prime News Global reported that Tesla executives visited India and engaged in discussions with government officials regarding the establishment of a manufacturing base for both cars and batteries within the country’s borders.
This month, discussions with Indian government officials are expected to continue in New Delhi. Anonymous sources familiar with the matter revealed that these talks will address various aspects related to the potential collaboration. However, as the discussions remain private, the sources chose not to be named.
As Tesla moves forward with its vision for a more affordable electric vehicle, the world watches closely for any developments that could reshape the landscape of the Indian automotive market.
Tesla’s pursuit of setting up an electric vehicle (EV) supply chain and establishing a factory in India gains momentum as the company prepares to meet with Indian Commerce Minister Piyush Goyal, according to a reliable source familiar with the matter.
The high-level discussions, slated to take place soon, will revolve around strategies for developing a robust EV supply chain in India and deliberating on the allotment of suitable land for the proposed factory.
Despite media outreach, the commerce ministry has not issued any official statement in response to the upcoming meeting.
As Tesla takes concrete steps towards its vision of manufacturing affordable electric cars in India, the meeting with the commerce minister marks a crucial milestone in the company’s engagement with Indian authorities. The anticipated outcome of the talks holds the potential to reshape the landscape of the Indian automotive industry and foster sustainable mobility solutions.