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2023-05-17

Is this right time to invest more considering the roadmap?

Tesla Evaluates Potential Locations for an Additional Manufacturing Plant: Sources

Sources close to the matter revealed that Tesla is currently evaluating potential locations for an a

Tesla Evaluates Potential Locations for an Additional Manufacturing Plant: Sources

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While India is being considered as a prospective site, the final decision has yet to be made.</blockquote><p>Senior Tesla executives reportedly met with representatives from the Ministry of Road Transport and Highways (MoRTH), the Prime Minister&#39;s Office (PMO), and the Ministry of Heavy Industries in India. Sources indicate that these discussions signify Tesla&#39;s renewed interest in exploring manufacturing possibilities in the country.</p><p>With India emerging as a key market for electric vehicles (EVs), Tesla officials have expressed serious interest in establishing a manufacturing presence in the country. The company acknowledges the robust potential India offers as an EV market, further emphasizing its commitment to expanding its operations globally.</p><p>During the meetings, Tesla representatives highlighted their concerns regarding taxes and duties applicable in India. These concerns align with the company&#39;s strategy to ensure a favourable business environment and the smooth functioning of its operations. Clear communication on these matters is crucial to foster a conducive manufacturing ecosystem.</p><p>Sources close to the matter revealed that Tesla is currently evaluating potential locations for an additional manufacturing plant, considering one or two countries. While India is being considered as a prospective site, the final decision has yet to be made. The company&#39;s interest in India as a manufacturing hub reinforces the nation&#39;s position as a competitive destination for automobile and component manufacturing.</p><p>Indian officials have reportedly conveyed to Tesla that any tax concessions must apply uniformly to the entire industry. 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