Tesla’s entry into India, as the company scouts for factory locations, marks a significant step forward in the country’s mobility transformation, according to CEO Elon Musk.
During a ‘Spaces’ meeting on his X social media platform with Nicolai Tangen, CEO of Norges Bank Investment Management, Musk stated that it’s a natural progression for Tesla to provide electric vehicles in India. He emphasized that transitioning to electric vehicles is inevitable, asserting, “All vehicles will go electric, and it is just a matter of time.”
Reports emerged recently indicating that Tesla is dispatching a team of experts to identify a site for a $2-$3 billion electric vehicle plant in India. Gujarat, Maharashtra, and Tamil Nadu are reportedly top contenders for EV manufacturing and export.
Prime Minister Narendra Modi extended an invitation to Elon Musk to explore investment opportunities in India’s e-mobility sector.
Industry experts foresee a rise in EV battery manufacturing, coupled with the ‘Make in India’ initiative, which is expected to reduce manufacturing costs and drive EV sales in the country.
