Global majors keen to make e-cars in India: Tesla quiet

Elon Musk-led Tesla Inc is yet to express interest in India's flagship scheme to attract global investment in electric vehicle (EV) manufacturing, said Union Minister for Heavy Industries HD Kumaraswamy on Monday.

- PUJA DAS New Delhi, 2 June

In contrast, multiple global automobile giants - such as Mercedes-Benz, Škoda Auto Volkswagen, Hyundai Motor, and Kia Motors - are keen to participate, the minister noted.

"Mercedes-Benz, Volkswagen, Škoda, Hyundai, and Kia have already shown interest," Kumaraswamy told reporters while releasing the long-awaited guidelines for the 'Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI). "As of now, Tesla is not interested in manufacturing in India, but only in opening showrooms. We will know their real intent when we open the application, and if the company feels like investing." The window for applications will open within the next one to two weeks.

Notified in March 2024, the scheme aims to attract foreign direct investment from global EV players, boost India's EV manufacturing capabilities, and generate employment.