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San Francisco. Elon Musk may choose a new location for the Tesla factory by the end of this year and according to him, India will be a part of his plans if all goes well.
In an interview with The Wall Street Journal, when asked if India was an option for a new Tesla location, Musk replied: Absolutely.
In March this year, Musk selected Mexico for the next Tesla Gigafactory. Tesla has several factories in the US, including one in Fremont, California. The electric carmaker also has factories in Berlin, Germany and Shanghai, China.
Reports surfaced earlier this month that a team of senior Tesla executives is reportedly planning to visit India to enter the niche EV market and expand its footprint beyond China.
According to a Bloomberg report quoting sources, discussions with India’s senior leadership revolve around the possibility of local sourcing of components for Tesla’s car models.
Musk has repeatedly said that he faced challenges from the government to release his products in India. Tesla is currently not in India due to challenges with the government, he posted.
The team they hired in India in 2021 was diverted last year to focus on the Middle East and larger Asia-Pacific markets.
Several top Indian leaders have repeatedly appealed to Musk to bring Tesla to India but to no avail.
Currently, India imposes a 100 percent tax on imported cars priced above $40,000 (Rs 30 lakh), which includes insurance and shipping expenses, and cars priced below $40,000 are subject to a 60 percent import tax.
With a $40,000 (over Rs 30 lakh) price tag, the Tesla Model 3 may stay as an affordable model in the US, but with import duties, it may become unaffordable in the Indian market with an estimated price of around Rs 60 lakh. Will go
Musk has said he wants to launch the car in India but the country’s import duty on EVs is the highest ever in the world.(IANS)
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Web Title-Tesla will choose new factory location this year, India a contender: Musk