The Monetary Occasions is reporting that Tesla will ship a workforce to India later this month to discover doable areas for a brand new manufacturing facility that’s slated to produced the corporate’s a lot anticipated low-cost mannequin.
In accordance the Monetary Occasions, a deal might have been struck between the Indian authorities and Tesla after New Delhi final month lowered tariffs on higher-priced imported EVs for firms that commit to creating them within the nation inside three years.
That is one thing that Tesla has been lobbying for as a precondition for investing within the nation. Insiders say Tesla is more likely to spend $US2-$US3 billion on the brand new EV manufacturing facility.
Tesla CEO Elon Musk met with Prime Minister Narendra Modi in New York in June final 12 months the place he mentioned it was “fairly possible” that Tesla would construct a manufacturing facility in India.
“He actually cares about India as a result of he’s pushing us to make important investments in India, which is one thing that we intend to do,” Musk advised reporters after the June 2023 assembly.
Elon Musk: “I’m Extremely enthusiastic about the way forward for India; He (Modi) actually cares about India as a result of he’s pushing us to make important investments in India, which is one thing we intend to do; It was a implausible assembly.” @elonmusk pic.twitter.com/WLd68GQs0z
— Sawyer Merritt (@SawyerMerritt) June 21, 2023
In keeping with Monetary Occasions Tesla’s workforce will concentrate on states with current automotive hubs, together with Maharashtra and Gujarat within the west and Tamil Nadu within the south.
“Some automakers have crops in Haryana state, neighbouring New Delhi, and one of many folks mentioned they thought Tesla may also scout potential websites across the capital,” the FT says.
“Nonetheless, the second individual mentioned the main target of Elon Musk’s firm can be on the opposite three states as a result of that they had ports, making it simpler to export automobiles.”
Tesla’s low-cost mannequin might give firm the increase it wants
Initially introduced at its investor day in March 2023, Tesla’s subsequent technology mannequin will use a revolutionary new manufacturing course of which Tesla claims will scale back manufacturing prices to beneath $US20,000 paving the way in which for a less expensive, mass produced mannequin for the EV big.
The information of a doable new manufacturing facility in India to provide the subsequent technology mannequin comes after Tesla reported decrease than anticipated gross sales within the first quarter of 2024, marking the corporate’s first year-on-year drop in quarterly gross sales since 2012.
Daniel Bleakley is a clear expertise researcher and advocate with a background in engineering and enterprise. He has a powerful curiosity in electrical automobiles, renewable vitality, manufacturing and public coverage.