Electric vehicle giant Tesla is in the initial stages of talks with Reliance Industries Limited (RIL) to form a joint venture and build a manufacturing plant in India.
While the role of RIL hasn't been finalized yet, it is expected that the Indian conglomerate may play a significant part in establishing the manufacturing facility and the allied ecosystem for Tesla in India.
While the specific timeline hasn't been finalized, senior Tesla officials are expected to visit India soon to finalize the plant's location and discuss the potential joint venture with RIL. The Indian government's recent approval of an EV policy aims to position India as a global manufacturing hub for EVs, with incentives for investment and domestic value addition.
Tesla has reportedly allocated $2 billion for its upcoming ventures in India, with plans to establish a manufacturing plant in either Gujarat or Maharashtra.
Senior officials from Tesla are expected to visit India soon to finalize the plant's location and discuss the potential joint venture with Reliance Industries Limited. If the ongoing talks with RIL do not materialize, Tesla may explore other domestic partners.
Late last week, Tesla reportedly initiated the production of right-hand drive cars at its plant in Germany, specifically for export to India, later this year. Tesla plans to enter the Indian market, which is the world's third-largest car market.
Besides Tesla, several other automakers are exploring or have already set up electric vehicle (EV) manufacturing facilities in India. The Vietnamese automaker VinFast is planning to establish a manufacturing facility in either Gujarat or Tamil Nadu. VinFast intend to bring three models to India – VF3, VF5, and VFe34.
Greaves Electric Mobility, Ather Energy, ATUL Auto, Bajaj Auto,Hero Electric, Hyundai Motor India, Mahindra & Mahindra, MG Motor India, Okinawa Autotech, Piaggio, Tata Motors, TVS Motor Company, and VE Commercial Vehicles are among the companies with EV manufacturing facilities in India. These facilities are located in various states, including Tamil Nadu, Maharashtra, Gujarat, and Telangana
The Indian government has approved policies to promote EV manufacturing, offering incentives to attract investments from global manufacturers. These policies aim to position India as a global hub for electric vehicles
India's growing focus on EVs reflects the country's commitment to sustainable mobility and reducing emissions.
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