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India, Tesla on verge of deal: involves importing electric cars, building local factory in 2 years

Bloomberg quoted sources as saying that India is close to reaching an agreement with Tesla.

If a deal is reached, Tesla may begin importing electric sedans to India next year. In addition, Tesla is also considering selecting locations to build factories in Gujarat, Maharashtra, and Tamil Nadu within two years.

Tesla

Image source Pexels

An announcement is likely to be made at the Vibrant Gujarat Global Summit in January next year, a person familiar with the matter said.

Another source said Prime Minister Narendra Modi’s home states of Gujarat, Maharashtra and Tamil Nadu are being considered as they already have well-established EV and export ecosystems .

According to reports, Tesla’s Gigafactory’s initial minimum investment is approximately US$2 billion (Note: currently approximately RMB 14.34 billion), and it hopes to purchase up to US$15 billion in auto parts from India.

In addition, the company will also consider manufacturing some batteries in India to reduce costs. But after all, the two sides have not yet made a final decision, and there may be variables in all plans.

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Threza Gabriel
Threza Gabrielhttps://www.techgoing.com
Threza Gabriel is a news writer at TechGoing. TechGoing is a global tech media to brings you the latest technology stories, including smartphones, electric vehicles, smart home devices, gaming, wearable gadgets, and all tech trending.

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