Tesla officials to visit in April to further India entry, meet govt officials

Tesla officials will visit India in April to review the company’s activities, including the Prime Minister’s Office (PMO), Ministry of Heavy Industry, Ministry of Traffic Transportation and Ministries of Trade and Ministers.

Tesla has discovered Maharashtra’s Chakan and Sambhaji Nagar, as well as Gujarat as preferred places of its production node. The company is expected to make a preliminary investment of $ 3-5 billion to confirm its production facilities, added source.

Tesla should apply for EV production scheme

Tesla will have to apply for lower imports to the production of electric passenger cars in India to use lower imports. On March 15, 2024, the policy aimed at promoting local EV production.

According to this scheme, the manufacturers are obliged to:

• Invest in India Minimum 4,150 Rs Rsore
• Achieve at least 25% inner value increase (DVA) third year
• Increase in the fifth year by 50% of DVA

“If Tesla wants to use low import responsibilities, it will have to be guarded in India and invested in a local supply network,” said another source.

In 2023, Tesla managers engaged in Modi administration to discuss local component sourcing, which takes the company, which occupies the office space in Pune. Further matches between Elon Mushk and Prime Minister Modi have further speculated the entry of the vision of India.

In 2024, India presented a revised EV policy, which offers imports to producers, which are at least $ 500 million in local investments. Musk expected to announce Tesla’s investment programs on April 2024 on April 2024 in India. However, he canceled the trip because of urgent business issues and traveled to China instead.

Although the Indian EV market is relatively small compared to China, where 11 million electric cars were sold last year, it gradually expands. In contrast, the sale of India’s EV was about 100,000 points in the same period. Despite this open, Tesla views India as a high possible market, given the government’s program to speed up the adoption of EV to adopt EV.