As per the reports, the US-based EV manufacturer Tesla will send a team to scout potential sites in India for establishing the US$ 2-3 billion electric car factory.
Tesla, the US-based electric car manufacturer was keen to enter the Indian market and it got a green signal after the recent approval of a new EV policy by the Government of India which allowed the import of 8,000 EVs every year at a lower 15% import duty. This policy comes with the pre-set condition that the company will have to invest a minimum of Rs. 4,150 crore in the country in order to set up a new EV manufacturing facility with a minimum of 25% localization. As per the latest media reports, a specialized team of Tesla executives will arrive in India by April end to search for locations to set up the aforementioned US$ 3 Billion factory. Tesla Scouting Sites in India- Detailed Description.
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The report further highlighted that the states with existing automotive manufacturing hubs will be focused which includes Maharashtra, Gujarat and Tamil Nadu. In addition to this, the electric car manufacturer will also scout for locations around the national capital Delhi, preferably the NCR (National Capital Region) territory. However, the former states will be given priority due to their locational advantage and proximity to the ports which will aid Tesla’s future export plans.
The electric car giant Tesla is planning to launch a new affordable small electric car for India which will go by the name ‘Model 2’. This new EV will be manufactured at the company’s upcoming India-based manufacturing facility for local sales as well as exports to other markets like Southeast Asia, the Gulf, Africa and southern as well as eastern Europe. The Model 2 is expected to be priced under $30,000.
In addition to this, the manufacturing facility in India will have a maximum production capacity of 5,00,000 units per annum. Reportedly, Tesla could also evaluate the possibilities of setting up a new battery-specific plant at a later stage.
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The Chinese EV manufacturer BYD is the closest rival of Tesla in terms of global sales. It sells models like Atto3 and recently launched Seal EV in India.
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