The Government of India announced its new Electric Vehicle Policy (EV Policy) a few days ago. Since then, the possibility of the leading EV company, Tesla, coming to India has been confirmed. Now, Tesla’s entry into India is confirmed. A Tesla team will come to India at the end of April. This team will work to find the most suitable place to set up a plant in India. This team focuses on Maharashtra, Gujarat, and Tamil Nadu the most.
Will Set Up A Plant Worth 2 To 3 Billion Dollars
The Financial Times claimed in its report on Wednesday that Elon Musk-led Tesla has prepared a plan to build a plant worth about $2 to $3 billion in India. A team will come to India in April to implement this plan. This team of leading electric vehicle manufacturers, Tesla, will visit many states and look for the most suitable land for the plant. Tesla’s priority is those states where the automobile industry already exists.
Tesla Sales Decline
This news of coming to India occurred when Tesla’s sales registered a decline in the March quarter. Tesla said that it sold 386,810 vehicles worldwide between January and March. This was 9% less than last year’s corresponding quarter sales figure of 423,000 cars. This decline in sales has come due to the strengthening competition against Tesla. Besides, the number of new customers has also decreased. Tesla’s Model 3 and Y sales have declined by 10.3 per cent annually to 369,783. At the same time, sales of Tesla X, S and Cybertruck have increased by 60 per cent to 17,027 units.
India’s EV Policy Was Announced In March
While announcing the new EV policy in March this year, the Indian government said that if a company invests 500 million dollars in the country and starts production in India within three years, it will be given an exemption in import tax. In July last year, Tesla wanted to make an EV car worth about 24 thousand dollars in India. Tesla CEO Elon Musk met Prime Minister Narendra Modi in June last year.
