From The Telegraph via MSN, April 3:
Elon Musk’s Tesla is exploring constructing a multibillion dollar electric vehicle factory in India as the country’s prime minister seeks to put the brakes on China’s dominance.
Tesla is planning to send a team to India later this month to hunt for possible locations for the plant which could be worth as much as $3bn (£2.4bn), the Financial Times reported.
The electric carmaker’s hunt for an Indian factory site comes after officials in New Delhi agreed to cut tariffs on electric car imports for manufacturers which invest $500m in a plant in the country within three years.
A cut to tariffs, announced in March, had been a key demand from Tesla executives. Possible sites could include carmaking hubs in Maharashtra, Gujarat and Tamil Nadu.
India’s prime minister Narinda Modi has sought to boost the country’s domestic electric vehicle manufacturing capabilities. The industry is dominated by its regional rival China and Tesla has its largest “gigafactory” in Shanghai.
One of Tesla’s biggest rivals, China’s BYD, has also sought to expand into India, but its plans for a $1bn factory plant in the country were rejected by government officials, the Economic Times reported last year.
In addition to Shanghai, Tesla already has manufacturing plants in California, Texas and Berlin. It is also building a plant in Mexico, which will open in 2026....
....MUCH MORE
Previously:August 15, 2023
"In India, it's advantage Tesla as Chinese automakers face heat"
India has a strategic plan. Slower-moving than Deng Xiaoping's lifting 500 million Chinese out of poverty but a real honest-to-goodness strategic plan nonetheless.March 17, 2024
Way back in 2010 we posted "India Orders Firms to "Scour the Earth" for Energy Supplies as President Obama Heads Over". For India, energy really is the key.
"India Tailors Electric-Vehicle Tariff to Lure Tesla" (TSLA)
Mr. Musk has to thread the needle on this one lest his Chines supply chain begin experiencing, ah, slowdowns. Alternatively, he goes big fast, in which case he might just leave the Chinese market to BYD and the other half-dozen Chinese EV manufacturers that will be among the survivors of the coming shakeout.
