Foreign investment: Elon Musk’s company Tesla to open sales center in India next year, may also set up manufacturing unit: Gadkari

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Tesla Inc. co-founder and CEO Elon Musk himself said in October that the company would enter the Indian market in 2021
Union Minister Nitin Gadkari said that India could become the world’s largest producer of electric vehicle (EV) in next 5 years

Union Minister Nitin Gadkari said on Monday that Tesla, the US electric car maker, is going to start business operations in India next year. If the demand is good, the company can also set up a manufacturing unit in India. The Ministry of Roads, Transport and Highways is promoting eco-friendly fuel and electric vehicles to reduce the country’s heavy crude imports of Rs 8 lakh crore.

Tesla Inc. co-founder and CEO Elon Musk himself said in October that the company would enter the Indian market in 2021. Gadkari said that Tesla will set up a distribution facility (sales center) in India for its cars next year and may also consider setting up a manufacturing unit, depending on demand. He said that India could become the world’s largest producer of electric vehicle (EV) in the next 5 years.

India has promised to cut carbon emissions by 30-35% by 2030

The minister said that India has promised to cut carbon emissions by 30-35 percent by 2030. Also, the ministry is trying to reduce crude imports by Rs 8 lakh crore. Therefore special attention is being paid to green fuel and electricity and EV. He said that India is a power surplus country, so there will be a lot of benefits of e-mobility solution here.

Government wants to give incentives to expand EV market

He said that by 2030, the government wants to monitor the growth of EV sales in the country by 30 per cent for private cars, 70 per cent for commercial cars, 40 per cent for buses and 80 per cent for two-wheelers and three-wheelers. For this type of incentives will be given. This will lead to rapid development of EV market in the country.

The government wants to install e-charging kiosks at every petrol pump in the country.

He said that there are around 69,000 petrol pumps in the country and on each of them, the government wants to install e-charging kiosks to increase the acceptance of EVs. This is the right time to think about becoming number one in terms of EVs, because there are raw materials and skilled workers available in India. In October this year, Elon Musk was asked about Tesla’s India plan on a social networking platform, when in response he said that definitely next year.

The Maharashtra government had earlier said that it is expecting investment from Tesla

The Maharashtra government had earlier said that it is expecting a possible investment from Tesla and has also had talks with its company. Many domestic and foreign automobile manufacturers already have a presence in Maharashtra. Chakan Industrial Belt near Pune is a major automobile hub.

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