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Tesla may source parts worth $1.9 bn from India this yr: Goyal
Mint Mumbai
|September 14, 2023
Electric vehicle maker Tesla is looking to source components worth around $1.9 billion from India this year, commerce and industry minister Piyush Goyal said on Wednesday.
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The minister said that going forward, demand for electric vehicles will increase and help the sector grow.
“Tesla already last year bought $1 billion of components from I think all of you sitting here," he told members of the Automotive Component Manufacturers Association of India (ACMA).
“I have the list of companies who supply to Tesla. This year their target is nearly $1.7 billion or $1.9 billion (is) what they mentioned,’’ he said at an annual session of ACMA.
The electric vehicle (EV) market in India is on the rise amid rising fuel costs.
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