Tesla accelerates construction of factories in India and launches affordable electric vehicles

Tesla plans to accelerate its expansion in the Indian market to meet the demand for electric vehicles in this fast-growing market. It is reported that Tesla has announced that it will purchase parts worth US$1.7 billion to US$1.9 billion from India. This move will help promote the construction of Indian factories and local production

Tesla and India Business Minister Piyush Goyal held talks in July this year where the two sides discussed plans to build car plants in India. Tesla has expressed interest in building a factory in India to produce electric cars priced at $24,000. This pricing strategy will make Tesla’s electric cars 25% cheaper than the current lowest-priced Model 3 model

Tesla has always paid great attention to the Indian market. As early as February 2021, Tesla registered a company in India, which shows that Tesla has begun preliminary preparations to enter the Indian market. However, Tesla's plans for the Indian market stalled for a time as Tesla and the Indian government failed to reach an agreement on tax incentives. But now Tesla appears to have made progress building a factory in India to support its upcoming low-priced electric cars. This new model will be sold in the Indian market and exported to other countries

According to the editor’s understanding, Tesla plans to purchase a large number of parts from India, which will help reduce production costs and improve its presence in India. market competitiveness. India, as a rapidly growing market, has huge potential for Tesla. Although Tesla has performed well in the Chinese market, continuing to expand its business in Asia remains a key component of its global strategy. This move is not only expected to meet the demand for electric vehicles in the Indian market, but will also provide a solid foundation for Tesla's continued growth in the Asian market.

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