According to Tech Crunch, Indian Commerce Minister Piyush Goyal said that Tesla plans to purchase 1.7 to 1.9 billion U.S. dollars from India this year.
To put it simply, this purchase could be nearly double the roughly $1 billion in auto parts Tesla will purchase from India in 2022.
Piyush Goyal said at an automotive event in New Delhi, “We will start enjoying the fruits of new technology, innovation and R&D coming into India. We will not only meet the rising demand in India but also as we compete in the world We will start exporting the same parts sold in other regions.”
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There were reports in July this year that Tesla representatives would meet with Indian Commerce Minister Goyal to discuss building a car factory to produce an electric car worth US$24,000, which may be the legendary Model Q.
Tesla has expressed interest in building a car factory in India to produce low-cost electric vehicles, people familiar with the matter said at the time. The model will be sold in the Indian market and will also be exported to other countries. If the news is true, the $24,000 electric car would be 25% cheaper than Tesla’s currently lowest-priced Model 3 model.
Tesla has been coveting the Indian market for a long time. As early as February 2021, Tesla registered a company in India, taking a step towards entering the Indian market. However, due to the delay in negotiations between Tesla and the Indian government on tax incentives, Tesla’s plan to enter the progress market has been delayed to this day.
