Tesla to set up EV factory in India, in talks with the government

With an annual capacity to produce as many as 500,000 electric vehicles, the prices for the EVs would start from 2 million rupees ($24,400.66), according to a TOI report.

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland | Reuters

Bengaluru: Tesla has started discussions with the Indian government for an investment proposal to set up a car factory in the country, with an annual capacity of as many as 500,000 electric vehicles, the Times of India reported on Thursday.

The prices for the electric vehicles would start from 2 million rupees ($24,400.66), the report added.

Tesla did not immediately respond to Reuters’ request for comment.

The billionaire Elon Musk-led company is also looking at using India as an export base as it plans to ship cars to countries in the Indo-Pacific region, the report said, citing government sources.

In a meeting with Musk last month, Indian Prime Minister Narendra Modi pushed the car maker to make a “significant investment” in the country.

($1 = 81.9650 Indian rupees)

 

(Reporting by Rama Venkat in Bengaluru; Editing by Sonia Cheema)

This report is auto-generated from Reuters news service. ThePrint holds no responsibility for its content.