Tesla’s first EV factory in Gujarat? Announcement likely during this event

Tesla is gearing up to make its mark in India, eyeing a manufacturing plant in Gujarat. The final stages of negotiations for the EV giant’s inaugural manufacturing unit in the country are underway and expected to be announced at the Vibrant Gujarat Summit starting on January 10.

Prime Minister Narendra Modi with Tesla and SpaceX CEO Elon Musk in New York. (PTI)

The potential sites for Tesla manufacturing plant include Sanand, Becharaji, and Dholera, reported Ahmedabad Mirror.

Wrap up the year gone by & gear up for 2024 with HT! Click here

However, as of now, neither the EV maker nor the state government has officially confirmed the development.

The EV maker and the Indian government are engaged in discussions regarding car manufacturing in India. Musk met PM Narendra Modi during his state visit to the US in June. Earlier in November, union commerce minister Piyush Goyal visited Tesla’s California factory.

Also read: Piyush Goyal tours Tesla factory in US; Elon Musk says sorry for his absence

In 2021, Elon Musk’s EV company had sought a reduction in import duties for electric vehicles, aiming for a decrease to 40 per cent from the existing range of 70-100 per cent, depending on the import value of the vehicles.

However, the government is currently not contemplating tax reductions for imported electric vehicles.

“Presently, there is no proposal either to provide an exemption from local value addition cost or to provide a subsidy on the import duty on electric vehicles in India,” Som Parkash, the minister for state for commerce and industry said in Winter session of parliament.

Also read: In blow to Elon Musk’s Tesla, Centre says ‘no proposal on import duty subsidy’

At present, Tata Motors holds the top spot as the leading electric car manufacturer in India, with its Nexon EV emerging as the best-selling electric car in the country.

Also read- 40% electric vehicles sold in India made in Tamil Nadu: Report

What is Vibrant Gujarat Summit?

The Vibrant Gujarat Global Summit, conceived in 2003 when Narendra Modi was the state chief minister, is set to mark its tenth edition, celebrating “20 years of Vibrant Gujarat as the Summit of Success.”

This global forum acts as a platform for business networking, knowledge sharing, and most importantly for announcing business partnerships.

Leave a Reply

Your email address will not be published. Required fields are marked *