According to reports, Tesla is preparing to work on a vehicle designed for both the Indian market and export. The car’s price will probably be around Rs 20 lakh ($24,000). According to a Reuters report, a Tesla representative will meet with Piyush Goyal, India’s commerce minister, this month to discuss their ambitious aspirations to establish a plant there to manufacture the affordable EV.
A brief about Tesla intends to produce a brand-new vehicle in India for Rs 20 lakh
According to the report, Tesla is eager to set up a local manufacturing base in India. The proposed factory would serve as both an export hub and a supplier of affordable EVs for the Indian market. The negotiations signal a strategic shift for the corporation because they follow earlier attempts to lower import duties on EVs that were thwarted by requests from government officials for commitments to local manufacture.
With a starting price of about Rs 20 lakh ($24,000), Tesla’s impending entry in the Indian market is predicted to be a game-changer. It is 25% less expensive at this price point than Tesla’s current entry-level Model 3 car, which sells for just over $32,200 (Rs 26.32 lakh) in China.
Since CEO Elon Musk met with Prime Minister Narendra Modi in June and announced his ambitions to make a sizable investment in India, the meeting with the commerce minister will be the highest-level engagement between Tesla and the Indian government since that time.
Less than 2% of all vehicles sold in India are electric vehicles, indicating that the market is still in its infancy. However, there is anticipated to be a boom in demand for EVs in the upcoming years due to Tesla’s entry into the inexpensive segment. In the sub-20 lakh price range, there are few EV alternatives on the Indian market.
