Elon Musk's Tesla to Double Imports from India
Leading American carmaker Tesla is set to double its imports from India amidst ongoing discussions with Indian authorities to establish a manufacturing plant in the country, Commerce and Industry Minister Piyush Goyal announced following his visit to the company”s manufacturing facility in Fremont. Tesla primarily imports vehicle components from India.
Expressing his enthusiasm for witnessing Indian engineers and finance professionals contributing to Tesla”s groundbreaking journey in the automotive sector, Goyal remarked, “I am extremely delighted to see talented Indian engineers and finance professionals working at senior positions and making significant contributions to Tesla”s remarkable journey in transforming mobility. I am also proud to witness the growing importance of auto component suppliers from India in Tesla”s EV supply chain. Tesla is on track to double its component imports from India. I missed Mr. @ElonMusk”s magnetic presence and wish him a speedy recovery.”
Visited @Tesla’s state of the art manufacturing facility at Fremont, California.
Extremely delighted to see talented Indian engineers & finance professionals working at Senior positions and contributing to Tesla’s remarkable journey to transform mobility.
Also proud to see… pic.twitter.com/FQx1dKiDlf
— Piyush Goyal (मोदी का परिवार) (@PiyushGoyal) November 14, 2023
Rumors circulated that Goyal would hold discussions with Musk during his visit regarding Tesla”s plans to set up a manufacturing plant in India. Tesla representatives, including Musk himself, have engaged in numerous discussions with Indian authorities on this matter. Musk, during his visit to the US, had expressed his intention to establish a plant in the country during his meeting with Prime Minister Narendra Modi.
Earlier, Tesla had requested India to reduce import duties on cars to facilitate the export of their vehicles to the country, one of the world”s hottest automobile markets. With the company”s intention to set up a factory in India, authorities may consider its request. Currently, India imposes a 100% import duty on cars.
During his US visit, Goyal attended the India Pacific Economic Framework (IPEF) and APEC meetings, where he engaged with investors, promoting India as an attractive investment destination.
“…highlighted how the country offers promising opportunities for investors, thanks to the unique combination of our demographic dividend, manufacturing capabilities, and conducive business environment,” Goyal tweeted.
