India welcomes Tesla and also all the other global companies which want to invest and manufacture in the country, Union Minister Piyush Goyal said on Saturday. Replying to a question on Elon Musk-promoted EV maker Tesla's speculated entry into India, Goyal said the American company is welcome to set up a presence in India. It is the give and take which creates mutually beneficial partnerships, the minister said, making it clear that India is not anti-imports. "We welcome Tesla and also all the other global companies who want to invest and manufacture in India," Goyal said. The minister also said that construction activity and vehicle exhaust are the prime reasons for pollution in cities. He assured that the government is committed to reducing pollution, citing efforts like encouraging usage of electric vehicles as a step in the same direction. "In cities, the main reason for pollution is construction and vehicular pollution," Goyal, who handles the Commerce portfolio, said. Switch
State has likely offered pre-acquired land at three potential locations
Some analysts, however, are doubtful of Tesla's interest in acquiring U.S. plants, citing its ample capacity at existing factories and first decline in yearly deliveries in 2024
India last year announced a policy aimed at attracting Tesla to manufacture EVs in the country and let such foreign carmakers import cars at a 15% tariff
Tesla said some 2023 Model 3 sedans and Model Y crossovers which run on older software may experience an overvoltage breakdown
Trump tariff news, Tesla India: US President Donald Trump said he would levy around 25-per cent import tariffs on automobiles, starting April 2, 2025
India's EV charging infrastructure, while expanding, remains in its infancy. Tesla's entry into India might just be the spark needed
The Berlin factory, which produces the Tesla Model Y, is now likely to manufacture right-hand drive vehicles for the Indian market
Investors are eager to get close to Musk, the so-called first buddy, who poured money into President Trump's campaign and is now running the administration's controversial cost-cutting efforts
After prolonged speculation about Tesla's entry into the Indian market, the Elon Musk-led EV major has begun the process of setting up its manufacturing unit in India
Chinese authorities may be considering leveraging Tesla's approval process as a strategic tool in ongoing trade negotiations with the US government
Carmaker may enter Mumbai, NCR markets
The electric-vehicle maker sought candidates for 13 roles, including customer-facing and back-end jobs, according to advertisements on Monday on its LinkedIn page
PM Modi US visit: Following his discussion with Elon Musk, PM Modi shared a post on social media platform X, describing the meeting as 'very good'
US President Donald Trump had signed executive orders to roll back EV incentives and regulations, reversing the previous administration's climate policies
Such comments often leave investors guessing what Tesla will actually deliver, and when, said Brian Mulberry, client portfolio manager at Zacks Investment Management, a Tesla investor
But those numbers are increasing every day, according to an official familiar with the data, and the Trump administration expects a spike in resignations
For Elon Musk fans, it's the half a trillion-dollar bet. That is how much the stock market value of Tesla has rocketed since the presidential election, a vertiginous climb uninterrupted in recent days despite a disappointing financial report that would have sunk the stock of nearly any other company. Investors are wagering that President Donald Trump will help Musk's company more than hurt it with his plans to take an axe to reams of Washington regulations and wield tariffs to get his way with key trading partners. Less regulation? Fantastic. Trade war? No biggie. It's going to be a golden age for Tesla and Musk, said Wedbush Securities financial analyst Dan Ives, adding after an investor conference call Wednesday, This is the most bullish I've ever heard Musk. Investing in Tesla has long been a gamble. Odds were against Musk creating a successful electric car company, never mind growing it to become the world's most valuable automaker and in the process making himself the world'
The revenue in question comes from the regulatory credits Tesla generates by selling EVs, which comply with increasingly stringent pollution standards governments have set around the world
Tesla plans to launch its autonomous ride-hailing service in Austin in June and then in other cities by the end of the year