Tesla can produce ‘Make in India’ EV worth Rs 20 lakh in this way
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New Delhi: Elon Musk is visiting India for the first time later this month to spend at least 48 hours in the country. As all eyes are on what billionaire Musk will announce during his meeting with Prime Minister Narendra Modi and industry leaders, Tesla (NASDAQ:TSLA) lovers have just one question: where will they finally ‘Make in India’, When will we be able to drive affordable EVs? There is a cheaper Model 3, the entry-level Tesla, which may only be possible to drive with local manufacturing of battery components and a strong EV supply system. For this, Musk will definitely have to make an important announcement during his first visit to the country.
At present, Tesla prices are almost the same across the world. The price of the base variant of Model 3 is more than $ 40,000 (about Rs 33.5 lakh).
According to Soumen Mandal, senior analyst at market intelligence firm Counterpoint Research, Tesla setting up local production will eliminate import duties, paving the way for an affordable Tesla car.
Also, cost reduction can be achieved if Tesla cars manufactured in the country come with fewer features compared to cars available globally.
Mandal told IANS that some of the hardware required for Full Self-Driving (FSD) mode could be eliminated and “Advanced Driver Assistance System (ADAS) Level 2 could be included”.
Tesla could eventually produce 5 lakh electric vehicles annually in India starting at Rs 20 lakh.
To make a car worth Rs 20 lakh, Tesla can also have a battery pack with a capacity of less than 50 thousand watts and the electric motor can be of low power. Electronics in the vehicle can also be minimized with a smaller center display.
In the new EV policy, the Government of India has reduced the customs duty on imported cars from the earlier 100 percent to 15 percent (with some conditions).
A minimum investment of Rs 4,150 crore (about $500 million) will be required to set up manufacturing facilities for EVs in the country.
According to industry experts, Tesla can generate revenue of at least $3.6 billion in India by 2030.
The post Tesla can produce ‘Make in India’ EV worth Rs 20 lakh in this way appeared first on Dainik Savera Times | Hindi News Portal.
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