10 April 2024 — Tesla CEO Elon Musk is set to meet Prime Minister Narendra Modi in April to discuss investment plans and announce a new manufacturing facility in India.
Tesla’s Potential Joint Venture:
Reports suggest Tesla is in talks with Reliance Industries for a joint venture to establish a manufacturing facility in India, signaling a strategic move into the Indian market.
India’s recent reduction in import taxes for EVs, along with incentives for domestic manufacturing, aligns with Tesla’s potential investment plans in the country.
Tesla’s production of right-hand drive EVs in Germany and the upcoming visit of Tesla officials to scout manufacturing locations in India highlight the company’s global expansion strategy.
Tesla’s push into India comes amid challenges in its primary markets, including competition in China and manufacturing concerns in the US, driving the need for diversification and market expansion.
Future Plans and Mass Market EVs: Tesla aims to begin production of a “mass market” EV by 2025, introducing more affordable electric vehicles to compete with traditional gasoline and hybrid cars.
