- India is in the final stages of import negotiations with Elon Musk-led Tesla.
- Latest report suggests that the EV maker will set up its first India factory in Gujarat.
- It is expected to be officially announced during the upcoming Vibrant Gujarat summit that is set for January 10, 2024.
Talks of Elon Musk-led Tesla making it to India have been going around for quite some time now. Last month, a Bloomberg report also revealed that the India-Tesla EV import deal is “closer to an agreement.” This report also gave us an insight into the fact that Gujarat, Maharashtra, and Tamil Nadu are being considered for the Tesla factory set up.
Now, Gujarat Health Minister Rushikesh Patel has officially revealed that there’s a high chance of Gujarat being the city to be home to the first Tesla India factory.
Patel also went on to mention how Musk has been fixated on Gujarat for quite some time now and that he “hopes” for Musk to bring Tesla to the city. He also states how the city is already home to some of the biggest automakers in the world, namely Suzuki, Tata, and Ford. Although no further details were given out, he does say that an official announcement for the same will be made “soon.”
Post the announcement, media reports have started pouring in, suggesting that the announcement will most likely be made during the Vibrant Gujarat 2024 summit. This particular two-day summit is scheduled to kick off on January 10, 2024.
Back in June 2023, Musk and Prime Minister Modi had a meeting in New York where the former revealed his plans to visit India. As per reports, since this is a big move for Tesla, Musk will most likely be there at the summit during the official announcement.
Currently, Tesla operates out of the U.S., Germany, and China. So, the India factory set up allows the company to hit those big numbers and get a major revenue boost. In total, the brand has over five EV cars.
In the global market, the Tesla Model 3 is the cheapest EV from the brand, coming with a price tag of $38,990 (approximately Rs 32.48 lakh). Meanwhile, the Tesla Model X is the most expensive car in the catalog, totaling $94,990 (approximately Rs 78.68 lakh).
The fact that Tesla is likely to soon go Make in India as well means that Indian customers will finally be able to not just get their hands on a Tesla but also make use of the pricing benefits that come along with it.