Tesla is making plans to establish a manufacturing facility in India.
The company has submitted a new proposal for a factory to the Indian government, aiming to capitalize on the growing electric vehicle (EV) market in the country. Previous attempts to set up operations were hindered by a tariff dispute and restrictions on importing vehicles manufactured in China.
Senior executives from Tesla recently visited India to engage in discussions with government officials about local sourcing of parts. The team also held meetings with officials from the Prime Minister’s Office. Details regarding the investment amount and factory location have not been disclosed thus far.
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India is the world’s third-largest car market, and the number of EV buyers has risen significantly, thanks to government subsidies. Although the charging network in India is not as extensive as in the United States or Europe, it is rapidly expanding.