ELON MUSK'S TESLA has in-principle agreed to the suggestion put forward by the Centre that apart from assembling its electric vehicles in the country, it also set up a vendor base here. However, the government has said that the company can first start with domestic assembly of cars and later follow it up by setting up a vendor base.
Indications are that Tesla may not delay the setting up of the domestic vendor base much as it does not believe in decoupling manufacturing and supply chain.
Currently, more than half of Tesla's global production happens in China (Shanghai) where it has developed a large vendor base. It has also recently built a megapack battery factory there.
If the company starts a manufacturing base in India, it would mean relocating these vendors to India. The vendors would then need to form joint ventures with Indian firms as post-2020 border clashes, India discourages 100% Chinese investments.
This story is from the June 07, 2023 edition of Financial Express Mumbai.
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This story is from the June 07, 2023 edition of Financial Express Mumbai.
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