The Indian Govt is pushing to accelerate the approval process for
Tesla's potential entry into the country by January 2024
Tesla has been engaged in discussions with the
Indian government
around its broader expansion into the Indian market
Earlier this year,
Musk met with Prime Minister Narendra Modi
and expressed optimism about Tesla’s prospects in India.
In Aug,
Tesla officials met Piyush Goyal
to expedite plans for a manufacturing plant in India.
Tesla is planning to source
$1.7-1.9 Bn
in EV components from local vendors this year and establish a
battery storage facility in India.
The
increasing demand for EVs in India
has attracted both global and domestic tech companies, along with emerging startups
In addition to Tesla,
Audi and Mercedes-Benz
are also in the queue to grab opportunities in the Indian EV ecosystem.