Renowned electric car manufacturer Tesla is set to establish its manufacturing plant in India soon. According to reports, Tesla is currently searching for a suitable location to set up its factory in India, and the company's official team will be visiting India shortly.
About Tesla's Plan: Tesla is an American EV manufacturer with its headquarters in Austin, United States. It's the leading electric car manufacturer globally, with a market value of approximately 559.85 billion US dollars.
Given its stature, Tesla is keen on establishing its presence in India and is actively working towards this goal. As per reports from the Financial Times, Tesla is looking for a location to set up its car manufacturing plant in India and is planning to invest around 2-3 billion US dollars. Therefore, there is hope that Tesla's electric car manufacturing plant will soon be located in India.
Possible Plant Locations for Tesla: According to reports, Tesla may choose Tamil Nadu, Maharashtra, or Gujarat as the location for its electric vehicle manufacturing plant in India. However, Tamil Nadu is considered the most likely state for Tesla's plant.
VinFast Manufacturing Plant: Recently, VinFast established a car manufacturing plant in Tamil Nadu. VinFast is a prominent electric vehicle manufacturer from Vietnam. After the Chinese company Build Your Dreams (BYD), VinFast is the second major Asian EV brand to enter India.
In the initial phase, VinFast will invest 4000 crore rupees in the EV plant for five years. The total investment by VinFast for this project is 16,000 crore rupees. Reports suggest that VinFast will first launch the VF e-34 electric car in India, followed by VF6 and VF7 electric cars. Indian customers are eagerly awaiting the launch of these electric cars.
New EV Policy Benefits: Under the new Electric Vehicle (EV) Policy, the Indian government has announced incentives such as a minimum investment of 500 million dollars in India and exemptions in import duties for companies manufacturing locally. Consequently, major global EV manufacturers like Tesla are expected to enter the Indian market. As per the new EV Policy, companies can import only up to 8000 electric cars per year, limiting the import of vehicles beyond this quota.
Source: https://hindi.drivespark.com/four-wheelers/2024/tesla-will-established-3-billion-dollar-car-plant-in-india-tesla-team-will-visit-soon-news-in-hindi-026473.html
By Kuldeep
