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Tesla is setting up a factory for electric cars in India?
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Elon Musk's Tesla began discussions with the Indian government to start a factory in India with costing of Rs 20 lakh.
A few years later, Elon Musk's Tesla began discussions with the Indian government about requesting capital to start a car company in the country with an annual capacity of 500,000 electric cars and costing Rs 20 lakh.
The company, which has significant operations in China, including Factories, is also considering using India as an export base, with plans to export vehicles to countries in the Indo-Pacific region.
"Tesla approached us with an ambitious plan and we believe this time the move will be very aggressive because it involves mainly local manufacturing and exports," With the Ministry of Commerce and Industry leading the negotiations, the government hopes to reach an "agreement" on equal terms.
An inquiry sent to the company's US headquarters went unanswered at press time. People said Tesla is also in talks with government officials about the possibility of bringing its automotive and electronics products to India, receiving incentives and tax breaks in the process.
Sources close to the matter said the development marks a renewed interest in the US-based electric car maker's interest in India, and it came just after talks with CEO, Elon Musk by Prime Minister Narendra Modi during his visit to the US last month.
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