Brief by Shorts91 Newsdesk / 05:09pm on 03 Apr 2024,Wednesday Business
Tesla, led by Elon Musk, plans to send a team to India this month to assess locations for a proposed $2-$3 billion electric car manufacturing facility. This move follows India's reduction of import taxes on certain electric vehicles, contingent on local production commitments. Amidst slowing EV demand globally, Tesla aims to tap into the Indian market, potentially focusing on states like Maharashtra, Gujarat, and Tamil Nadu. The company's long-awaited entry into India could stimulate further investments in the EV sector and benefit local auto parts manufacturers, analysts suggest.
