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India’s Union Minister of Commerce & Industry Piyush Goyal invites Tesla to manufacture electric vehicles in India.
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Goyal offers Tesla two options: subsidies for local manufacturing or lower import duties to create market and charging infrastructure.
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Elon Musk’s trip to India was delayed, but he expects to visit later this year to announce investments in electric vehicle manufacturing.
India is keen on promoting electric vehicles, and Union Minister of Commerce & Industry Piyush Goyal has extended an invitation to Tesla to manufacture in India. In an interview with CNBC, Goyal emphasized India’s focus on sustainability and electric vehicles, highlighting the success of Indian companies like Tatas and Mahindras. He welcomed Tesla to explore the vast market opportunity in India.
Goyal addressed Elon Musk’s demands for subsidies, explaining that the government has offered two options. Companies can choose to manufacture in India and receive subsidies or import vehicles at lower duties to create market and charging infrastructure. This approach aims to encourage companies to invest in local manufacturing, creating a win-win situation for both the industry and the country.
Elon Musk’s trip to India was delayed due to his “very heavy Tesla obligations,” but he expects to visit later this year. His trip was highly anticipated, as Tesla has been in talks with the Indian government for years. Musk is expected to announce significant investments in electric vehicle manufacturing, potentially worth $2-3 billion. He also plans to meet with space startup executives in New Delhi and await regulatory approvals for his Starlink satellite broadband services in India.
