A person with firsthand knowledge of the situation told Reuters that Tesla representatives are scheduled to meet with India’s commerce minister Piyush Goyal this month to discuss plans to open a factory to produce what the company has billed as an all-new $24,000 automobile.
According to the source, Tesla has expressed interest in developing a plant in India that would manufacture affordable electric vehicles (EVs) for both the domestic market and export. The company has also stated that the plant would produce the new vehicle.
Since Elon Musk met with Prime Minister Narendra Modi in June and declared his intention to make a sizable investment in the nation, the meeting with the commerce minister would be the highest-level engagement between Tesla and the Centre.
The Model 3 sedan, which costs the equivalent of slightly over $32,200 in China, would be 25% less expensive than Tesla’s current lowest-priced model, according to reports that EV Tesla representatives made during conversations over a potential Indian plant.
The Times of India newspaper stated earlier this month that the new Tesla vehicle’s target price is $24,000.
A request for comment from Tesla was not immediately complied with.
Tesla executives visited India in May, according to a Reuters report, and spoke with government representatives about setting up a base for producing vehicles and batteries there.
It is planned to restart this month, according to two people with knowledge of the talks who declined to be identified because the conversations are confidential, who spoke to Reuters.
According to the first individual, as part of that, Tesla personnel are scheduled to see Mr. Goyal, and conversations are anticipated to revolve on establishing up an EV supply chain and talking about site allotment for a manufacturing.
An inquiry for comments was not answered by the ministry of commerce.
