Tesla is revving its engines (well, revving its electric motors) as the company is planning to enter India, the world’s third-largest auto market. The company has started producing right-hand drive models at its Berlin Gigafactory in Germany, specifically designated for the Indian market. This hints at potential exports to India as early as this year.
A team from Tesla is expected to visit the potential factory locations later this month
An official announcement of Tesla’s Indian entry is still forthcoming, but their commitment seems strong. A team is expected to visit potential factory locations later this month, with an estimated investment of $2 billion USD (roughly 14.48 billion yuan) earmarked for the project.
India’s recent policy change has played a significant role in attracting Tesla. The new policy offers reduced import taxes on certain electric vehicles, with the condition that manufacturers invest at least $500 million and establish production within three years. This policy change also allows overseas car companies to import up to 8,000 cars annually at a lower tax rate.
Tesla’s ambitions in India go beyond just exporting vehicles. They plan to invest in the country’s charging network infrastructure and source more components locally. Three southern Indian states – Tamil Nadu, Maharashtra, and Gujarat (Prime Minister Modi’s home state) – are being considered as potential factory locations, with construction expected to take around two years.
Tesla’s move to enter India is a clear sign that the company wants to expand their presence in the Asian market, with India emerging as a crucial player. Their entry will be keenly observed, especially considering the recent policy changes and the growing demand for electric vehicles in India.
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