Mumbai, November 23: Elon Musk-owned Tesla will soon enter India and start providing its electronic vehicles for customers. Tesla is likely to introduce its first EV next year in India. However, manufacturing in India may begin late in 2026. According to reports, Telsa may launch an affordable EV model in India that will likely be based on the Tesla Model Y crossover. The reports said that the crossover will launch in Germany and then in India.
Tesla and its CEO Elon Musk have not given any official statement confirming the reports. According to the reports, the Indian market poses many difficulties for Tesla to enter and manufacture. However, the reports said India will soon start importing EVs after an agreement with the Indian government. Tesla's entry into India is long-awaited, as the company did not enter previously due to high tariffs levied on the cars. Tesla May Launch Its 'Budget-Friendly' EV Model in India After Debuting in Germany: Report.
When Will Tesla Officially Announce Its Entry in India?
According to a Financial Times report, the official announcement is expected at the Vibrant Gujarat Global Summit 2023, scheduled for January 10 to 12, 2024. The report said the company considered three states with "well-developed" ecosystems for EV manufacturing. According to a Bloomberg report, factories being considered by Tesla are likely to be in states like Gujarat, Maharashtra, and Tamil Nadu. The report said that the import of the cars will begin in 2024; however, setting up the plant may take next two years. Elon Musk on X Says ‘Cybertrucks Are on Their Way to Tesla Stores in North America’.
When will Tesla set up its manufacturing plants in Indian states?
Tesla will soon complete the agreement with the Indian government to import EVs and consider well-developed states like Gujarat, Maharashtra, and Tamil Nadu to set up its battery assembly and manufacturing facilities by 2026. According to reports, Tesla would need a minimum investment of USD 2 billion (approximately Rs 16,665 crore). The reports also mentioned that Telsa was considering purchasing Indian auto parts by investing up to USD 15 billion (roughly Rs 1.2 lakh crore). Tesla CEO Elon Musk has yet to announce all these reports, including the official entry announcement in India.
(The above story first appeared on LatestLY on Nov 23, 2023 02:29 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).