Tesla Firms Up Plans For $30 Bn Investments To Set Up Base In India

Tesla Firms Up Plans For $30 Bn Investments To Set Up Base In India

SUMMARY

The $30 Bn in direct and indirect investments will primarily go towards establishing a manufacturing facility, a battery ecosystem, and other ancillary industries

The Elon Musk-led company is said to be actively considering Haryana, Tamil Nadu, Maharashtra and Gujarat to set up a factory in India

At the heart of Tesla’s hectic parlays is the burgeoning Indian EV market, which is projected to balloon to a size of $110 Bn by 2029

As talks with the Indian government progress further over setting up a plant in the country, EV automaker Tesla is reportedly open to committing nearly $30 Bn in direct and indirect investments in India over the course of the next five years. 

Sources told Hindustan Times that the company is in advanced talks to enter the Indian market, adding that the capital will primarily go towards establishing a manufacturing facility, a battery ecosystem, and ancillary industries.

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