Tesla is set to launch talks later this month that would bring a factory to India that would be responsible for building a $24,000 car, a new report states.
Tesla and India have a long history of negotiations for a potential vehicle production plant, and in the past, things have gotten close to the company and country agreeing to terms, only for small details to derail the entire effort.
But this year seems to be slightly different. Tesla has been in advanced discussions with India for the better part of 2023, and as negotiations in the past have crumbled due to issues with import duties, it seems some sort of agreement has been reached that caters to both entities.
Now, Reuters is reporting that Tesla is planning to meet with India’s commerce minister later in July to discuss a factory in the country that would produce a $24,000 car for the local market and for export.
It would mark the highest level of discussions between Tesla and India since a meeting in June in the U.S. when CEO Elon Musk and Indian Prime Minister Narendra Modi met, with Musk stating he intended to make a major investment to bring the company’s EVs to the country.
“I am confident Tesla will be in India, and we’ll do so as soon as humanly possible,” Musk said after the meeting. “Hopefully, we’ll be able to announce something in the not-too-distant future. We don’t want to jump the gun on an announcement,” he added, “but it’s quite likely that there will be a significant investment and relationship in the future.”
Tesla currently operates factories in Fremont, California, Austin, Texas, Shanghai, China, and Brandenburg, Germany. It also has a plant in Buffalo, New York, where it manufactures Superchargers and energy products, and is moving toward initial construction in Mexico at a new facility.
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