Tesla proposes to set up a new factory in India

There is no word yet regarding the amount of investment and the location of the factory.

American electric carmaker Tesla is reportedly planning to set up a manufacturing unit in India. According to the latest reports, the EV maker has submitted a fresh proposal for a factory to the Indian government.

Tesla has plans to tap into the rapidly growing EV market in India. However, previously its plans were stalled following a tariff dispute with the government. Another issue was that Tesla was not allowed to import vehicles manufactured in China.

It has been reported that senior executives from Tesla were in India this week, to discuss the local sourcing of parts with government officials. It is said that the team also had discussions with officials from the Prime Minister's Office. There is no word yet regarding the amount of investment and the location of the factory.

India is the world's third-largest car market. There has been a massive rise in the number of EV buyers thanks to government subsidies. Charging network, though not as widespread as the US or Europe, is also expanding at a rapid pace.

Source: Auto News