NEW DELHI: After years of dilly-dallying, Elon Musk’s Tesla has opened discussions with the Indian government for an investment proposal to set up a car factory in the country with an annual capacity of as many as 5 lakh electric vehicles with prices beginning from Rs 20 lakh.
The company — which has a significant presence in China, including factories — is also looking at using India as an export base as it plans to ship cars to countries in the Indo-Pacific region, government sources told TOI.
“Tesla has come to us with an ambitious plan, and we are confident that the movement will be positive this time around, especially as it involves both local manufacturing and exports,” a source said. The commerce and industry ministry is leading the talks and the government is hoping to put together a “good deal” while maintaining a level-playing field.
A questionnaire sent to the company’s headquarters in the US remained unanswered at the time of going to press.
FOLLOW US ON SOCIAL MEDIA