The carmaker could invest up to $3 billion in a factory building 500,000 EVs annually
Elon Musk had previously pleaded with the India n government to provide its vehicles with a local tax exemption. India has long encouraged Tesla to establish a factory in the country. Tesla could build its $25,000 EV in India and export it globally. Tesla is toying with the idea of establishing a factory in India and will send a team from the U.S. to explore potential sites. The American carmaker and EV leader has long been interested in entering the India n market.
Tesla is thought to be most interested in states with existing automotive hubs like Maharashtra, Gujarat, and Tamil Nadu. All three are near ports and would make it easier for Tesla to export the EVs it builds locally. One source claims Tesla is also investigating Haryana state near the country’s capital of New Delhi. In addition to the considerable investment to be made by Tesla, suppliers would also invest billions of dollars more in the effort to build a new model from the brand.
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