Tesla is ‘serious’ about India’s production and innovation base. On Friday, India’s deputy minister for technology told Reuters that Tesla Inc (TSLA.O) is “serious” about building a manufacturing facility in the nation.
As Tesla reenters the Indian market, Elon Musk’s company negotiated with Indian officials this week on incentives for car and battery manufacturing, Reuters reported on Thursday.
“They are very seriously looking at India as a production and innovation base,” Rajeev Chandrasekhar said in the first public comment by an Indian government official on the negotiations.
“We have signalled to them that the government of India is working together (and) will certainly make whatever ambitions they have or investment objective they have in India a success,” said Chandrasekhar, one of Prime Minister Narendra Modi’s highest-ranking officials.
According to Reuters, Tesla wants to produce electric vehicles (EVs) and batteries in India.
Chandrasekhar remarked, “you don’t talk about cars alone,” while discussing Tesla.
Cars, energy, and manufacturing technology are discussed. Thus, it all matters. But, he continued, “I don’t know what they’ll do in India.”
Tesla didn’t immediately answer.
Tesla stated late last year it was focused on lowering automobile import taxes, which can approach 100%.
The government wants Tesla to produce cars domestically, but the company wants to sell to India first to test demand.
Tesla’s largest factory is in Shanghai, China, and Brandenburg, Germany.
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