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Tesla Plans to Invest Heavily in Indian Auto Parts Nearly 2 Billion USD

By
Mohit Kumar
Mohit Kumar
|Updated on:15-Sep-2023 07:13 AM

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ByMohit Kumar

Updated on:15-Sep-2023 07:13 AM

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Tesla is set to make a significant investment in Indian auto parts, with plans to spend nearly $2 billion. Stay tuned for updates on this exciting development.

Tesla Plans to Invest Heavily in Indian Auto Parts Nearly 2 Billion USD

Big News for India's Auto Industry

Tesla, the world's largest electric vehicle maker, is set to make a significant investment in India. They plan to buy nearly $2 billion worth of auto parts from Indian suppliers this year. This is almost double what they spent on Indian components last year, which was $1 billion.

A Boost for India's Auto Sector

India's Commerce and Industry Minister, Piyush Goyal, shared this exciting news during the 63rd Annual Session of the Automobile Component Manufacturers Association of India (ACMA). He highlighted that Tesla's investment in India shows global confidence in the Indian auto industry and the government's efforts to support local manufacturing and exports.

Tesla's Arrival in India

Tesla is gearing up to launch its vehicles in India soon. They've already registered a subsidiary in Bengaluru and applied for permits to import four models. Additionally, Tesla is in discussions with several state governments about establishing its first manufacturing plant in India. This plant could produce Tesla's most affordable electric car, priced at around Rs 20 lakh.

A Boost for Electric Mobility in India

Tesla's entry into India is expected to give a significant push to the country's electric vehicle industry, which is still in its early stages compared to other markets. The Indian government is also working on a comprehensive electric vehicle policy that aims to create a fair playing field for all stakeholders and encourage innovation and the adoption of eco-friendly transportation solutions.

Tesla's presence in India could be a game-changer for the electric vehicle industry, making sustainable mobility more accessible and popular among Indian consumers.


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