Thursday, July 25, 2024

News Destination For The Global Indian Community

News Destination For The Global Indian Community

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Tesla likely to have red carpet welcome in India

Tesla likely to have red carpet welcome in India

EV Automobile giant Tesla will have a red-carpet welcome from India for its proposal to invest in the country, while its largest rival in electric vehicles, China's BYD, has been stopped cold by increased scrutiny from New Delhi.

"The future of who wins in India will have some bearing on who wins globally in the EV race," said Jasmeet Khurana of the World Economic Forum.

Since a meeting between Musk and Prime Minister Narendra Modi in June in New York, Tesla has fast-tracked closed-door discussions with officials on a potential plant investment and plans to build a new low-cost $24,000 EV.

Those talks continued over the past week with Tesla discussing minute details of its plans to gain access to India's fast-growing EV market, and Prime Minister Modi personally tracking developments, sources say.

BYD China's loss in India could be Tesla USA & Musk's gain.

Tesla likely to have red carpet welcome in India

Tesla likely to have red carpet welcome in India

EV Automobile giant Tesla will have a red-carpet welcome from India for its proposal to invest in the country, while its largest rival in electric vehicles, China's BYD, has been stopped cold by increased scrutiny from New Delhi.

"The future of who wins in India will have some bearing on who wins globally in the EV race," said Jasmeet Khurana of the World Economic Forum.

Since a meeting between Musk and Prime Minister Narendra Modi in June in New York, Tesla has fast-tracked closed-door discussions with officials on a potential plant investment and plans to build a new low-cost $24,000 EV.

Those talks continued over the past week with Tesla discussing minute details of its plans to gain access to India's fast-growing EV market, and Prime Minister Modi personally tracking developments, sources say.

BYD China's loss in India could be Tesla USA & Musk's gain.

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