INDUSTRY HOPES FOR BETTER CHARGING INFRA

Tesla has been exploring the possibility of establishing a manufacturing plantin the country, in lieu of customs duty concessions.

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Ahead of Elon Musk’s visit next week, the Indian electric vehicle industry is looking at Tesla’s entry into India as representing more than just selling cars. Despite the expected higher pricing compared to competitors like Tata, Mahindra, and MG Motors, the view in the EV industry is that Tesla is aiming to establish a strong foothold in the Indian market. Akshit Bansal, Founder & CEO, Statiq is of the view that beyond merely selling cars, Tesla’s bid to enter India indicates a broader strategic vision aimed at catalysing the adoption of EVs and advancing sustainable transportation infrastructure in the country.

“Tesla’s CEO, Elon Musk, has expressed interest in not only manufacturing vehicles but also exploring opportunities in renewable energy, battery storage solutions, and potentially even establishing gigafactories in India,” says Bansal. “Beyond sales, Tesla seeks to promote sustainable energy solutions, advance technological innovation, and contribute to India’s growing electric vehicle ecosystem,” adds Bansal.

Tesla has been exploring the possibility of establishing a manufacturing plant in the country, in lieu of customs duty concessions. Tesla also aims to source components worth around USD 1.9 billion from India in the current year, compared to USD 1 billion in 2022, Commerce Minister Piyush Goyal had said in September 2023.