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Tesla is stepping up efforts to enter the Indian market. According to a report, company officials will soon hold meetings with agency heads and senior government officials.
Tesla continues its efforts to enter the Indian market. According to the Economic Times, citing sources, the company's senior management on Thursday met with Nivruti Rai, the newly appointed CEO of Invest India, which helps global investors invest and work in India. The sources also added that further meetings with the country's Trade and Industry Minister, Piyush Goyal, are also on the agenda.
The details of the recent meeting with Rai remain undisclosed. However, this comes after a virtual meeting between Goyal and Tesla CEO Elon Musk earlier this month, per Benzinga.
According to the information, several ministries, including the Ministry of Commerce and Industry and the Ministry of Electronics and Information Technology, have been involved in discussions about Tesla's proposals to set up automotive and battery manufacturing facilities in India. Those talks intensified after Musk met with Prime Minister Narendra Modi in the US last month.
Tesla has been eyeing India for a long time. However, earlier, the country was only interesting as a sales market. The manufacturer sought to study demand first but was unable to negotiate with the government to reduce the import tax. However, Tesla has recently completed the development of a new generation of automotive platform. It needed to produce cars priced at about $25,000. This means it makes a lot of sense for the company to build a production site in Asia, in addition to Giga Mexico, which will also make affordable cars. Perhaps incentives and tax breaks were also part of the discussions between Tesla and representatives of the Indian government.
© 2023, Eva Fox | Tesmanian. All rights reserved.
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Article edited by @SmokeyShorts; follow him on Twitter
About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
