Tesla In Talks To Set Up Factory In India, Car Prices To Start At ?20 Lakh: Report

Tesla has reportedly initiated discussions with the Indian government for an investment proposal to set up a car factory in the country. According to The Times of India, the factory in question could have an annual capacity of as many as 500,000 electric vehicles.

According to the report, the prices for these electric vehicles would start from ?20 lakh. While Tesla hasn't officially acknowledged this change, the report added that Elon Musk's company is also looking to use India as an export base to ship cars to countries in the Indo-Pacific region.

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Tesla finally making moves?

Last month, Elon Musk had a meeting with India's Prime Minister Narendra Modi, wherein the latter pushed Tesla to make a "significant investment" in the country.

In June, Musk had said that Tesla was looking to invest in India "as soon as humanly possible. ""I am confident that Tesla will be in India and will do so as soon as humanly possible," Musk had said.

Also read: Elon Musk Says Tesla Coming To India 'Soon,' Adds Twitter Will Abide By Local Laws

Reuters

At the same time, Musk said that he intends to visit the country next year. "India has more promise than any large country in the world. He [PM Modi] really cares about India because he's pushing us to make significant investments in India, which is something we intend to do. We are just trying to figure out the right timing," Musk had added.

Also read: Tesla Bot Takes Its First Steps: New Video Shows Progress, But Challenges Lie Ahead

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In addition to Tesla, Elon Musk said that he intends to bring Starlink satellite internet service to the country as well. In May, Tesla executives visited India and held talks with local bureaucrats and ministers to establish a manufacturing base for cars and batteries

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