Tesla & Reliance may team up for establishing EV manufacturing unit in India
According to reports, Tesla has set aside $2 billion for its upcoming projects in India and has been looking at a number of places, including Maharashtra and Gujarat, for possible plant sites.
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Tesla might be seeking for a regional partner to launch its business in India. According to a report by The Hindu Businessline published on 9 April, the US electric car giant is exploring the possibility of forming a joint venture with Reliance to build a production facility in the nation.
According to reports, Tesla has set aside $2 billion for its upcoming projects in India and has been looking at a number of places, including Maharashtra and Gujarat, for possible plant sites. The article stated that Maharashtra is allegedly becoming the preferred option.
“India is now the most populous country in the world. India should have electric cars just like every other country has electric cars. It’s a natural progression to provide Tesla electric vehicles in India,” Musk said.
Within the next month, senior Tesla representatives are anticipated to travel to India in order to finalize the plant’s location and cement a joint venture with RIL.
The Indian government passed an Electric Vehicle (EV) policy earlier in March with the goal of positioning the nation as a global powerhouse for EV manufacture. The policy stipulated that there would be no maximum investment cap and a minimum investment of Rs 4,150 crore.
Additionally, as per the policy, the levy on the total amount of EVs that might be imported would be limited to either the investment made or Rs 6,484 crore, which is the equivalent of incentives under the PLI program, whichever is less.
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