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Business News/ Auto News / When are Tesla cars coming to India? Elon Musk answers the million dollar question

When are Tesla cars coming to India? Elon Musk answers the million dollar question

Tesla CEO Elon Musk emphasizes India's need for electric vehicles, aligning with the country's push for sustainable transportation. Plans for a manufacturing plant in Maharashtra or Gujarat, supported by India's EV policy, signal a significant development.

Tesla CEO Elon Musk (Representational image) (Reuters / Tingshu Wang)Premium
Tesla CEO Elon Musk (Representational image) (Reuters / Tingshu Wang)

Tesla CEO Elon Musk has expressed his keen interest in bringing electric vehicles to India, emphasizing that it is a natural step for the country to embrace this sustainable mode of transportation. In a recent conversation on X Spaces with Nicolai Tangen, CEO at Norges Bank Investment Management, Elon Musk emphasized India's expanding population and emphasized the need for electric cars to become as commonplace there as they are in other nations.

"All vehicles will go electric and it is just a matter of time," added Musk.

In line with this vision, Tesla is actively exploring opportunities to establish a manufacturing plant in India. Both Maharashtra and Gujarat have reportedly extended tempting land offers to the electric car giant. 

Several media reports suggest that the proposed plant could entail an investment ranging from USD 2 billion to USD 3 billion, with ambitions to serve both domestic and international markets.

This move by Tesla aligns with India's recently unveiled electric vehicle policy, which aims to attract investments from global manufacturers and promote the adoption of advanced EV technology within the country. Under this policy framework, companies are encouraged to set up manufacturing units in India, with specific targets for domestic value addition.

The Indian government's EV scheme also offers incentives such as customs duty reductions for manufacturers who establish local production facilities. Moreover, there are provisions for importing a limited number of EVs based on the investment made, further incentivizing companies to invest in local manufacturing.

Elon Musk's vision to bring Tesla to India was reiterated during a statement last year, where he expressed confidence in the company's imminent presence in the Indian market. Musk mentioned being invited by Prime Minister Narendra Modi during his visit to the United States, expressing gratitude for the support received.

Tesla's plans for India have been gaining momentum, as evidenced by Union Minister for Commerce and Industry Piyush Goyal's visit to the company's manufacturing facility in California. Goyal praised the increasing role of Indian auto component suppliers in Tesla's supply chain, indicating a growing partnership between India and the electric car manufacturer.

With Tesla's eagerness to tap into India's growing market and India's push towards sustainable mobility, the stage seems set for a significant development in the country's electric vehicle landscape. As Tesla scouts for suitable locations and navigates through policy frameworks, anticipation builds for the arrival of electric cars on Indian roads in the near future.

(With inputs from ANI)

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Published: 09 Apr 2024, 12:34 PM IST
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