It is up to Tesla to lay down EV plant investment plans: DPIIT Secy
Tesla Inc.’s court to lay down its investment plans for the South Asian nation after the government cut import duty on electric vehicles.
The industry department last month released a comprehensive policy for boosting EV manufacturing in the world’s most-populous nation. Following that move, it’s up to Elon Musk’s carmaker to “make the announcements of their manufacturing plans,” Rajesh Kumar Singh, secretary of department for promotion of industry and internal trade, told Bloomberg in an interview on Thursday.
“We will help them out in terms of giving them the contacts at state level,” Singh said. “There have been contacts made at that level with state governments and the central government. VinFast has already announced and we expect a few others.”
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Vietnamese automaker VinFast recently broke ground on an EV manufacturing facility in India’s southern state of Tamil Nadu.
Tesla is planning to send a team of people to scout for locations in India this month for a proposed $2 billion to $3 billion electric car plant, the Financial Times reported earlier this week, citing people familiar with the matter that it didn’t identify. Tesla would also look to increase purchases of auto parts from the nation to as much as $15 billion, Bloomberg reported in November.
Musk’s carmaker has for years been been making a case for cutting import taxes before it commits to any significant investment in one of the world’s biggest
