Tesla will negotiate with India regarding the establishment of a car factory to produce approximately 170,000 vehicles
Tesla plans to discuss setting up a car factory in India to manufacture around 170,000 vehicles
【Phoneauto News】It’s not news anymore that Tesla plans to build a factory in India, but substantial progress hasn’t been made due to unresolved conditions. A new report states that Tesla will initiate negotiations later this month regarding the establishment of a factory in India to produce cars worth $24,000 (approximately RMB 170,000).
Tesla’s negotiations with India for a potential car production factory have been ongoing for some time. In the past, an agreement was almost reached, but the efforts were disrupted due to some minor details.
However, this year seems to be slightly different. Throughout most of 2023, Tesla has been engaged in in-depth discussions with India. Although past negotiations broke down due to import tariffs, it seems that an agreement that satisfies both parties’ interests has been reached.
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According to Reuters, Tesla plans to meet with India’s Minister of Commerce in late July to discuss the establishment of a factory in India, which will produce cars worth $24,000 for the local market and exports.
This will mark the highest-level discussion between Tesla and India since their meeting in the United States in June. During that meeting, Tesla CEO Elon Musk met with Indian Prime Minister Narendra Modi and expressed his intention to make significant investments and introduce Tesla’s electric vehicles to India.
After the meeting, Musk stated, “I am confident that Tesla will enter India, and we will do so as soon as possible. Hopefully, we can announce something in the near future. We don’t want to rush the announcement,” he added, “but there is likely to be significant investment and a relationship in the future.”
Currently, Tesla has factories in Fremont, California; Austin, Texas; Shanghai, China; and Brandenburg, Germany. The company also has a factory in Buffalo, New York, where it produces turbochargers and energy products, and is in the initial stages of building a new factory in Mexico.
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