(CTN News) – The Tesla company, owned by Elon Musk, has begun discussions with the Indian government about opening a factory that can produce half a million electric cars every year. This is part of a proposed investment proposal.
It is also reported that the automotive company is looking at using India as its export base for supplying cars to countries in the Indo-Pacific region, according to the Times of India.
With a starting price of INR2 million, the vehicles will be twice as expensive as India’s cheapest electric car, MG Comet, and half a million more expensive than the top-selling electric car in the nation, Tata Nexon EV.
Several sources confirmed that Tesla had come to us with an ambitious plan, and that we were confident that the movement this time around would be positive, especially since it involves both local manufacturing as well as exports.
It is expected that the country’s commerce and industry ministries will lead the talks, as the government hopes to strike a good deal while maintaining a level playing field in the negotiations.
It was in May that executives from Tesla visited India and held talks with Indian bureaucrats and ministers regarding the establishment of a manufacturing base for cars and batteries in that country.
The electric carmaker Tesla dropped hints in a meeting with Prime Minister Narendra Modi last month that it may unveil its plans to invest in India as part of its investment program.
It was reported by Reuters that Musk had been invited to brief Modi on plans to establish a manufacturing base in India in the coming months.
It has been noted that Musk, who also owns Twitter since last year, has stated that “India has a great deal of potential for a sustainable energy future, which includes solar power, stationary battery packs, and electric vehicles.”.
The 51-year-old CEO also expressed his intention of bringing SpaceX’s global satellite internet service, Starlink, to India over the next few years.