All Tesla automobiles will now use semiconductor chips made by Tata Electronics. For this, Tata and American electric car maker Tesla have inked a strategic agreement. As per the Economic Times article, Tata Electronics would produce semiconductors for the global Tesla supply as part of this agreement.
Elon Musk, the owner of Tesla, is scheduled to visit India at the time of this contract. Additionally, Musk will see Prime Minister Narendra Modi. According to reports cited by news agency Reuters, Musk would visit India between April 22 and April 27.
Tesla's owners may declare during this period that an automobile production facility will be established in India. In an X post, Musk stated, "I'm excited to meet PM Modi." It's going to be his first time visiting India. Musk had already met Prime Minister Modi twice.
Tesla intends to establish a factory for producing cars and batteries.
Tesla is planning to send a team to India this month to search for a location for an electric car manufacturing plant valued at between $ 2 and $3 billion (₹ 16 thousand crore and ₹ 25 thousand crore), according to a story published in Britain's Financial Times on April 3.
According to the source, the team intends to concentrate on developing an electric car manufacturing factory in states known for their automotive industry, such as Maharashtra, Gujarat, and Tamil Nadu. The ports in these states, from which automobile exports will be simple, are the cause of this.
In India, Tesla intends to produce and market battery storage devices in addition to electric vehicles. For this, the business has submitted a proposal to the Indian authorities.
Musk intends to invest $2–3 billion in India.
Elon Musk is expected to declare his intention to invest $2–$3 billion in India, according to CNBC-TV18. In addition to producing automobiles for the Indian market, Tesla also intends to export them outside.
In addition, Musk may shortly launch satellite-based broadband services in India. According to CNBC-TV18, Starlink is nearing the end of the regulatory clearance process and should receive its license shortly.
Tesla's arrival was made easier by the government's new EV policy.
The Indian government modified the EV policy a month ago. As per the recently implemented policy, the import tariff on certain models was lowered from 100% to 15%. Investors will need to put up at least $50 million (about ₹ 4,172 crore) for this. The government's new policy made it simpler for American billionaire Elon Musk's electric vehicle company, Tesla, to join India. The company has been searching for an entry route into India for some time.
There are now four Tesla electric vehicles available for purchase in the US market. Model S, Model 3, Model X, and Model Y are a few of these. The Model 3 with actual wheel drive is the most affordable of these. In America, it costs $ 38,990, or around Rs 32.48 lakh.
