Elon Musk’s company is also considering using India as an export base.
According to the Times of India, Tesla has begun talks with the Indian government about establishing a car manufacturing in the nation with an annual capacity of up to 500,000 electric vehicles.
The electric vehicles’ costs will begin at Rs. 20 lakh, according to the report.
Tesla did not react quickly to Reuters’ request for comment.
According to the article, which cited government sources, the billionaire Elon Musk-led company is also considering utilizing India as an export hub as it aims to transport automobiles to countries in the Indo-Pacific area.
During a meeting with Musk last month, Indian Prime Minister Narendra Modi pressed Musk to make a “significant investment” in India.
Musk stated in June, following a meeting with Prime Minister Modi in New York, that the electric carmaker is aiming 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 said in response to a reporter’s question on Tesla’s plans to invest in India, adding that he planned to visit the country next year.
“India has more promise than any other large country on the planet.” He (PM Modi) genuinely cares about India since he is pressuring us to make large investments in the country, which we intend to do. “We’re just trying to figure out the best time,” Musk added.
Musk, who is also the CEO of SpaceX, has stated that the company hopes to offer Starlink satellite Internet service to India.
Tesla executives visited India in May and met with Indian bureaucrats and ministers about building a manufacturing base for cars and batteries in India.