New Delhi: Tesla, the US-based electric carmaker, is moving ahead with its plans to enter India. Company officials are set to visit the country in April to discuss their strategy with government officials.
High-Level Meetings Planned
Tesla executives will meet with officials from the Prime Minister’s Office (PMO) and key ministries. They will discuss investment plans, factory locations, and government policies on EV manufacturing.
Massive Investment Plans
Sources suggest Tesla may invest between $3 billion and $5 billion to set up a manufacturing hub in India.
Government’s New EV Policy
India has introduced an EV policy offering import duty concessions. Companies must invest at least $500 million in local manufacturing to qualify. They can import up to 8,000 EVs annually at a reduced duty of 15% if they meet specific conditions. At least 50% of the investment must be made within three years, and production should start within five years.
Potential Factory Locations
Tesla is considering Maharashtra and Gujarat for its factory.
- Maharashtra: The Chakan industrial area in Pune and Chhatrapati Sambhaji Nagar (Aurangabad) are top choices. These locations have a strong automotive ecosystem.
- Gujarat: The state is attracting major investments from automobile and battery manufacturers, making it another strong contender.
Hiring in India Begins
Tesla recently posted 13 job openings on LinkedIn for Mumbai and Delhi locations. These include customer-facing and back-end roles.
The company’s India entry has gained momentum after CEO Elon Musk met Prime Minister Narendra Modi during his visit to the US. Tesla’s arrival is expected to boost India’s EV market significantly.
