Tesla to make inroads into India by 2024

New Delhi: Elon Musk-run Tesla might start rolling out on Indian roads soon as the Centre is ramping up the process to provide all the necessary approvals from the concerned departments by January 2024 for its entry into the country, media reports said on Tuesday. According to the reports, the Prime Minister's Office (PMO) held a meeting on Monday with top officials to review the upcoming phase of electric vehicle (EV) manufacturing in the country, including Tesla's investment proposal.

The Union Ministries of Commerce and Industry, Heavy Industry, and Electronics and Information Technology have been engaged in discussions about Tesla’s plans in India, following a meeting between Musk and Prime Minister Narendra Modi during the latter’s state visit to the US in June.

In September, a report said that Tesla is planning to build a factory for battery storage in India and has submitted a proposal for the same to the government. The electric car-maker proposed supporting the country’s battery storage capabilities with its Powerwall during recent meetings.

Musk is also aiming to build a Tesla supply system in India. The EV major is planning to source automobile parts worth up to $1.9 billion this year from India, Union Commerce Minister Piyush Goyal had said.

The minister said that last year, Tesla had already bought $1 billion worth of components from India and this year their target is $1.7-$1.9 billion.