As India tries to boost domestic manufacturing and EV adoption, Tesla is proposing to set up an Indian factory, but is demanding lower import taxes for electric cars
Last month, on the same earnings call where Musk referred to Tesla digging its own grave, he warned that the Cybertruck "has a lot of bells and whistles"
Musk has said Tesla was likely to reach a production rate of roughly 250,000 Cybertrucks a year in 2025
In September, Goyal had said the company is looking to source components worth $1.9 billion from India this calendar year, compared to $1 billion in 2022
Commerce and Industry Minister Piyush Goyal has visited the manufacturing facility of US-based electric vehicle major Tesla at Fremont, California and said that the company would be doubling its auto components imports from India. The minister is in the US on a four-day visit. The world's largest electric car producer Tesla Inc's chief Elon Musk met Prime Minister Narendra Modi in June in New York and after the meeting Musk had said that he planned to visit India in 2024. "Visited @Tesla's state of the art manufacturing facility at Fremont, California. Extremely delighted to see talented Indian engineers and finance professionals working at Senior positions and contributing to Tesla's remarkable journey to transform mobility. "Also proud to see the growing importance of auto component suppliers from India in the Tesla EV supply chain. It is on its way to double its components imports from India. Missed Mr @ElonMusk's magnetic presence and I wish him a speedy recovery," Goyal said on
Opening up the EV segment could speed up the adoption of cleaner transport in a country that currently has the world's most toxic air
The IPEF ministerial meeting is scheduled to take place during November 13-14, which is likely to see 'significant updates' on the progress of negotiations
While both Tesla and the Indian government remain keen on the proposal, and New Delhi continues to review it, it is not certain if the plan will be realised, said the first source
Tesla's best-selling Model Y, for example, starts at $47,740 in the U.S. before tax credits
The Securities and Exchange Commission asked a judge for final approval of the plan in a court filing Wednesday evening
The cuts follow moves by Geely Automobile Holdings' Zeekr brand, which lowered prices by as much as 37,000 yuan
To facilitate EV manufacturing in India, the government could also provide some concessions for the import of Tesla's critical parts
Tesla Founder Elon Musk's ambition to build a high-volume affordable car is not new
Tesla already has a substantial presence in China, and now, the company is looking at India as an export base to supply cars to other markets in the Indo-Pacific region
T R B Rajaa, the Minister for Industries, Investments and Commerce, Tamil Nadu government, is targeting $6 billion of investments in the EV sector in the near future
In a conversation with Ruchika Chitravanshi, Singh, whose stint at the think tank ended on Friday, says the EV segment in India is seeing interest from global players such as Tesla
The latest goal of the South Korean car manufacturer is an update from its earlier target of selling 1.87 million EVs by 2030
At present, most of Tesla's vendors are Chinese, and they will need to establish joint ventures with Indian firms to operate in the country
With plans to import and sell cars off the table, Elon Musk's flagship is exploring the challenging prospect of an assembly plant for a cheaper electric vehicle
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