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India offers sops to Tesla ensuring production costs undercut China

India offers sops to Tesla ensuring production costs undercut China
Gadkari's pitch comes weeks after billionaire Elon Musk's Tesla registered a company in India in a step towards entering the country, possibly as soon as mid-2021
Reuters | March 2, 2021 | Updated 21:34 IST
India's fledgling EV market accounted for just 5,000 out of a total 2.4 million cars sold in the country last year
India is ready to offer incentives to ensure Tesla Inc's cost of production would be less than in China if the carmaker commits to making its electric vehicles in the south Asian country, transport minister Nitin Gadkari told Reuters.
Gadkari's pitch comes weeks after billionaire Elon Musk's Tesla registered a company in India in a step towards entering the country, possibly as soon as mid-2021. Sources familiar with the matter have said Tesla plans to start by importing and selling its Model 3 electric sedan in India.

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Elon Musk confirms Tesla's India plans in two-word tweet

Elon Musk confirms Tesla's India plans in two-word tweet
This is the first statement about Tesla's plans for India that Musk has made since the company registered its office in Bengaluru. On January 8, Tesla registered itself as a company named Tesla India Motors and Energy in Bengaluru
BusinessToday.In | January 14, 2021 | Updated 16:14 IST
Tesla CEO Elon Musk
Tesla CEO Elon Musk confirmed his plans for establishing Tesla centres in five states across the country. He did so in a two-word tweet put out by him on Wednesday. "As promised," Musk wrote on Twitter. The world's richest man was replying to a tweet linking to a blog post on the Tesla fan site Tesmanian which noted that Tesla cars will be expensive for Indians but the cars will become more affordable for the country's middle class when the company starts production within the country.

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