The big company Tesla, known for electric cars, has a plan to invest about 30 billion dollars in India.
They are having positive discussions about this. Tesla has created a plan to invest in India for five years.
People are saying that the government will soon announce a new policy for electric vehicles. Tesla is currently waiting for the new policy to be revealed.
Tesla will make the biggest foreign investment in the country
According to Hindustan Times, if Tesla comes to India, it would be the largest foreign investment in the country.
Those who are part of the talks about Tesla’s project mentioned that Tesla is planning to invest around 3 billion dollars in its plant.
Additionally, its related companies are expected to invest about 10 billion dollars in India.
There is also a plan for around 5 billion dollars in the battery segment, which might increase to about 15 billion dollars over time. They are hopeful that Tesla will invest around 30 billion dollars.
Waiting for the EV policy of the Central Government
The government led by Modi is working hard to finish the EV policy. This policy will be crucial to attract Tesla to India.
As per the report, if the tax on electric vehicles brought in from other countries is lowered in the new policy, Tesla will speed up its plans to come to India.
Tesla wants to launch its manufactured products in India first
As per information, Tesla aims to introduce the products it makes in India initially.
Simultaneously, it plans to develop the infrastructure for charging. Tesla also intends to create a car that is Made in India, which will require about 3 years to build a factory.
The company will also emphasize exporting electric cars from India.
Elon Musk is a fan of Prime Minister Narendra Modi
As per the information, Elon Musk, the owner of Tesla, likes Prime Minister Narendra Modi.
He values the work the PM is doing to progress the country. Elon Musk and PM Modi met in New York in June last year.
During that meeting, PM Modi invited him to invest in India, which Elon Musk is seriously considering.
However, the Indian government, while encouraging electric vehicles in the country, is not willing to offer any special benefits according to the company.
