Tesla's India Investment: Key ministries collaborate for swift entry of EV maker
Elon Musk's electric vehicle (EV) company Tesla to India as soon as January 2024, The Economic Times reported. The Prime Minister's Office recently convened a meeting to discuss the future of EV manufacturing in India, which includes Tesla's investment proposal, it added. While the meeting was focused on policy matters, officials did prioritise the acceleration of approvals for Tesla's proposed investment in the country by January 2024, an official told the paper.
The ministries of commerce and industry, heavy industry, and electronics and IT have been in discussions concerning Tesla's plans after a meeting between Tesla CEO Elon Musk and Prime Minister Narendra Modi during the latter's state visit to the US in June. India has also invited US President Joe Biden to be the chief guest for the Republic Day celebrations on January 26, 2024. A big Tesla announcement ahead of the Republic Day celebrations and Biden's potential visit could garner brownie points for the government, amid a focus on Make in India and Aatmanirbhar Bharat.
Senior Tesla executives have engaged in discussions with the Indian government to establish car and battery manufacturing facilities in the country, as per the report. Tesla is interested in bringing its supply chain ecosystem to India, it added. Ministries and government departments have been instructed to resolve any differences with Tesla and expedite the announcement of the company's manufacturing plant in India, another official told the paper.
Read more on livemint.com
