Rs 20 lakh for a Tesla: Musk’s India electric car factory plan gathers speed
After hanging fire for a long time, Elon Musk-led electric carmaker Tesla’s highly-anticipated India plan finally seems to be gathering some speed.
Reportedly, the plan is to set up a factory in India with a yearly capacity of 5 lakh EV units. Prices could start from “as low as” Rs 20 lakh for a car, ToI reported.
As per reports, India’s commerce and industry ministry is leading the discussions. The government is hoping to put together a ‘good deal’ while maintaining a level-playing field.
After China, the company is looking to turn India into an export base to serve markets in the Indo-Pacific region, ToI’s report said.
“Tesla has come to us with an ambitious plan, and we are confident that the movement will be positive this time around, especially as it involves both local manufacturing and exports,” a source told the newspaper.