Will setting up a Tesla EV factory in Gujarat change the face of the electric market in India?
Will setting up a Tesla EV factory in Gujarat change the face of the electric market in India?
The upcoming Vibrant Gujarat Global Summit is going to be held in January 2024, in which it is expected to be formally announced.
Will setting up a Tesla EV factory in Gujarat change the face of the electric market in India?
Tesla Entry in India:
At present, the share of electric vehicles in the Indian market is 2.4 percent, but the graph of EV is increasing day by day. On top of that, Tesla is going to enter India, which is being seen as a possibility to take it further.
There is a lot of discussion about Tesla setting up a plant in Gujarat. Along with this, the company can also launch its vehicles on the roads in the next few years. However, initially Tesla will bring its cars through the CBU route. The company has also announced to set up its plant in India with an investment of USD 2 billion.
Will setting up a Tesla EV factory in Gujarat change the face of the electric market in India?
The upcoming Vibrant Gujarat Global Summit is going to be held in January 2024, in which along with its formal announcement, Elon Musk is also expected to attend. However, no official information has been received from Tesla regarding this yet. But if Tesla also produces battery packs at local level, then this step will help in promoting the ecosystem of EV segment.
This will be the entry of a big name in India, which is one of the largest auto markets in the world. Besides, Tesla will also try to fulfill its promise, which it has made for India. Tesla is eager to enter India and promote the electric passenger car segment as well as establish a foothold in the EV segment.
For starters, our hope is that Tesla will bring cars like Model 3 and Y here through the CBU route. However, with manufacturing commitment, import tax can also be reduced. The recently introduced Model 3 could be brought to India due to its range, until the more affordable locally produced Model 2 comes to India in the coming years.
Will setting up a Tesla EV factory in Gujarat change the face of the electric market in India?
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