Tesla to scout locations in India for $3 bn EV plant

April 03, 2024 21:50

Tesla Motors CEO Elon Musk/Stephen Lam/Reuters

Tesla Motors will send a team to scout locations in India this month for a proposed $2-3 billion electric car plant, Financial Times reported, citing two people with direct knowledge of the electric vehicle company's plans.

This development comes after India lowered tariffs on higher-priced imported EVs last month for companies that commit to making them in the country within three years. Notably, the tariff cut was a concession Tesla had been pushing for as a precondition for investing, according to FT.

The team is expected to come from the US by late April to study sites for the plant, focusing on states with existing automotive hubs, including Maharashtra and Gujarat in the west and Tamil Nadu in the south, the report stated, citing people with knowledge of Tesla's plans.

Some automakers have plants in the state of Haryana, neighbouring New Delhi, and one of the people said they thought Tesla might also scout potential sites around the capital.

However, the second person said the focus of Elon Musk's company would be on the other three states because they had ports, making it easier to export cars. -- ANI

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