American electric car manufacturer Tesla is in discussions with the Indian government regarding an investment proposal to set up a factory in India.
The proposed factory is expected to have an annual capacity of approximately 500,000 units.
Furthermore, the price range for Tesla’s electric cars manufactured in India is projected to start from Rs 20 lakh.
According to government sources cited in a media report, Tesla is also considering utilizing India as an export base.
Reuters reached out to Tesla for comment, but no response has been received thus far.
Recently, Tesla CEO Elon Musk had a meeting with Indian Prime Minister Narendra Modi during his visit to the United States.
During their conversation, Modi encouraged Musk to invest in India.
Musk expressed his intention to invest in India, stating, “India has more potential than any other major country in the world. I am sure Tesla will come to India as soon as possible.”
He also hinted at the possibility of visiting India next year.
Tesla has announced plans to launch fully autonomous vehicles by the end of this year.
The company has been diligently developing this technology over the past few years, although previous deadlines were not met.
Musk expressed optimism about the progress made, saying, “I think we’re very close to achieving full self-driving without human supervision.”
He made this statement via video link during a conference on artificial intelligence in Shanghai, China.
Tesla has recognized China as its largest market and has recently announced plans to establish a second major factory in Shanghai.
The company reported an 83% increase in vehicle deliveries in the second quarter and has made several price cuts in recent months.
