Tesla CEO Elon Musk has yet again reiterated the company’s commitment to enter the Indian market. As per a recent statement by the tech billionaire, selling Tesla electric vehicles in India would only be a “natural progression.” In addition, he held onto his famous proclamation of the whole world going electric for their mobility needs.
Musk’s statements came during an X Spaces session with Nicolai Tangen, the Chief Executive Officer at Norges Bank Investment Management. Speaking on the topic that many in India have articulated for long, the Tesla CEO said – “India is now the most populous country in the world, based on population. India should have electric cars just like every other country has electric cars. It’s a natural progression to provide Tesla electric vehicles in India.”
Musk also added that in the future “all vehicles will go electric and it is just a matter of time.”
Tesla Gigafactory in India
The statements are very much in line with Tesla’s recent activeness in finding a suitable state in India to set up one of its famous Gigafactories. Its state-of-the-art manufacturing plants are famous for optimum efficiency and for producing electric vehicles in significant numbers. With a local plant in India, Tesla will be able to cater to the world’s third-largest automobile market as a domestic player. In addition, it can export its vehicles to all the nearby South Asian nations from its India plant, making it a win-win for the firm on all fronts.
Sources indicate that the company has been in talks with the state governments of Maharashtra, Gujarat, and Telangana, all of which have extended generous land offers to Tesla for an EV manufacturing plant. The world’s automobile firm in terms of revenue is expected to invest anywhere between USD 2 billion to USD 3 billion in its India plant, which is likely to bring massive benefits to the host state as well.
As for Tesla, other than establishing its presence in the fastest growing EV market in the world, a local plant would also help it take advantage of India’s new EV policy offering significant incentives to global players setting base in the country. As the Indian government commits to EV adoption through these schemes, the associated subsidies are likely to help global OEMs manufacture their vehicles in India on a much more reasonable investment than anywhere else in the world.
It remains to be seen how the story of Tesla’s entry into the Indian market unfolds, with many chapters of it having already been written. Make sure to stay tuned to this space for updates on the same.
