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Tesla’s Plan to Establish Car Factory in India & Invest US$1.7-1.9 Billion in Parts and Components

tesla factory i2r

According to recent reports, including one from Tech Crunch, Indian Commerce Minister Piyush Goyal announced that Tesla intends to acquire $1.7-$1.9 billion worth of car parts from India this year. This amount would be almost double the estimated value of auto components that Tesla purchased from India in 2022.

At a gathering focused on the automotive industry in New Delhi, Piyush Goyal stated that India will benefit from cutting-edge technologies and research and development advancements. Not only will we fulfill the expanding demand within our country, but we will also begin sending these items to various regions around the globe.

It is worth mentioning that there have been talks between Tesla officials and Commerce Minister Piyush Goyal regarding the potential establishment of a facility dedicated to producing cars in India.

It was speculated that the plant would create an affordable electric vehicle priced at approximately $24,000 (currently about INR 19.91 Lakhs or 175,000 yuan), potentially identified as the mythical Model Q.

Rumors indicate that Tesla wants to build low-cost electric cars in India for domestic sales and exports. Such a vehicle would reportedly cost 25 percent less than Tesla’s current most basic Model 3 variant.

The corporation has been exploring opportunities in India since registering a subsidiary in the country in February 2021, though prolonged discussions concerning tax concessions caused their entry schedule into India to be pushed back.

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Deepanker Verma is a well-known technology blogger and gadget reviewer based in India. He has been writing about Tech for over a decade.

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