Tesla may set up EV plant in Gujarat, Musk likely to visit India next month
[ad_1]
New Delhi (Uttam Hindu News): Elon Musk’s Tesla may finally end its dry run in India and announce setting up an electric vehicle (EV) supply system manufacturing plant in Gujarat during the ‘Vibrant Gujarat Global Summit’ next month . According to media reports, this announcement is likely to be made at a major event on January 10-12 in the presence of Tesla CEO and Prime Minister Narendra Modi. With its strategic location and favorable business environment, Gujarat has emerged as the “preferred destination for Tesla’s manufacturing plans”.
According to Ahmedabad Mirror, the state government has suggested the names of Sanand, Bechraji and Dholera for Tesla to set up its manufacturing plant. Earlier, Gujarat, Maharashtra and Tamil Nadu were being considered by Tesla for setting up its EV plant. Tesla is engaged in intensive talks with the central government. It is seeking concessions that will facilitate easier entry into the Indian market. Union Commerce Minister Piyush Goyal had visited Tesla’s state-of-the-art manufacturing facility in Fremont, California in November.
Goyal said it was extremely heartening to see talented Indian engineers and finance professionals working in senior positions and contributing to Tesla’s remarkable journey in transforming mobility. Also proud to see the increasing importance of auto component suppliers from India in Tesla’s EV supply chain, the Union Minister posted on Twitter. It is on track to double its component imports from India. Elon Musk’s magnetic presence is missed. I wish him a speedy recovery. Musk had apologized to Goyal that he could not meet him due to ill health.
Musk replied, It was an honor to have you visit Tesla! I’m sorry for not being able to travel to California today, but I look forward to meeting you at a future date. Goyal and Musk were scheduled to meet during the minister’s visit to the US after the SpaceX and X boss met Prime Minister Narendra Modi in the US in June and revealed that he was keen to make significant investments in India.
According to earlier reports, the automaker had asked the Indian government for an initial tariff concession to offset India’s hefty customs duty of 70 percent for cars priced below $40,000 and 100 percent for cars more expensive. . Tesla had sought concessions as a condition for building a plant in the country. The reduced tariff will be applicable to all EV manufacturers. India’s EV market has the potential to achieve over 40 per cent penetration with revenues of $100 billion by 2030.
[ad_2]
Source link
