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Tesla seeks Indian partner for rooftop solar panel venture
Mint Mumbai
|February 14, 2024
Electric carmaker Tesla Inc. is scouting for local partners to make its rooftop solar panels in India, a person aware of the matter said.
The selected partner will help with the manufacturing and installation, while Tesla will provide technology and sales expertise.
The Elon Musk-led company has already conveyed its plans to the government and requested subsidies and other grants for the venture, the person cited above said on condition of anonymity.
Apart from its mainstay business of electric cars, Tesla also makes several home power products covering solar power generation and storage.
These include Solar Roof, which replaces conventional thatched roofs with photovoltaic tiles; Powerwall, a battery power storage unit; and solar panels.
Tesla's India plan comes at a time its US solar business has slowed, with December quarter deployments falling 59% to 41MW from 100MW a year earlier, the worst since 2020.
This story is from the February 14, 2024 edition of Mint Mumbai.
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