There has been ongoing speculation about Elon Musk-led Tesla entering the Indian market. A recent Bloomberg report highlighted progress in the India-Tesla electric vehicle import deal, suggesting it’s nearing an agreement. The report also hinted at potential locations for a Tesla factory, naming Gujarat, Maharashtra, and Tamil Nadu.
Adding weight to this, Gujarat Health Minister Rushikesh Patel has officially indicated that Gujarat is highly likely to host the inaugural Tesla factory in India.
Patel highlighted Musk’s longstanding interest in Gujarat and expressed hope for Musk to establish Tesla in the city. He emphasized that Gujarat already hosts major global automakers such as Suzuki, Tata, and Ford. While no specific details were disclosed, Patel mentioned an imminent official announcement, promising that details would be shared “soon.”
Following these developments, media reports indicate that the announcement might occur during the Vibrant Gujarat 2024 summit, set to commence on January 10, 2024. This two-day summit is anticipated to serve as the platform for this significant announcement.
In June 2023, Musk met with Prime Minister Modi in New York, disclosing his intentions to visit India. Reports suggest Musk’s probable presence at the summit for the official announcement, considering this significant move for Tesla.
Presently, Tesla operates in the U.S., Germany, and China. Establishing a factory in India presents an opportunity for the company to achieve substantial growth and revenue, aligning with its goal to expand and diversify its electric vehicle lineup, which already comprises over five models.
In the global market, Tesla’s cheapest electric vehicle is the Model 3, priced at $38,990 (approximately Rs 32.48 lakh). On the other end, the most expensive Tesla model is the Model X, priced at $94,990 (approximately Rs 78.68 lakh).
The prospect of Tesla soon manufacturing in India signifies an exciting opportunity for Indian customers. It means not only gaining access to Tesla’s vehicles but also potentially benefiting from pricing advantages associated with local manufacturing.
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