Elon Musk's Tesla most likely to set up India factory in Gujarat

Talks about Tesla entering India have been sporadic and we were always excited for some news on the same. This time, the information comes from a state government spokesperson of Gujarat, revealing that Tesla is considering Gujarat for its first India factory.

As per media reports, Musk is confident about India and has considered Gujarat as a location for its Tesla India plan. However, the announcement isn’t official. The spokesperson has hinted that the announcement will be made very soon, likely at the Vibrant Gujarat Global Summit 2024. The summit will take place on January 10, so we don’t have to wait too long.

Both PM Narendra Modi and Musk are reported to be present at the event for the announcement. It is worth noting that Gujarat is already home to several manufacturing units of automakers like Tata Motors, Maruti Suzuki, Ashok Leyland, and others. Now, Tesla is also expected to benefit from what other automakers are enjoying.

Earlier this year in June, Musk and PM Modi had a meeting in New York. After that meeting, Musk revealed that he plans to visit India in 2024.

Tesla currently has over five electric vehicles in its portfolio. There’s the Tesla Model S, Model X, Model Y, Model 3, and the Cybertruck. It’s unclear which of these vehicles will begin manufacturing first in the country. However, the locally manufactured vehicle will not only be sold in India, but will also be exported globally. This will be Tesla’s move to lower its dependency on China.

Globally, the cheapest Tesla is the Model 3, which starts at $38,990 (roughly Rs 32.42 lakh). The most expensive Tesla is the Model X priced at $94,990 (roughly Rs 79 lakh). Tesla’s India arrival is nearing. Now, it remains to be seen how these vehicles are priced in the country. Since these will be manufactured in India, expect some price benefits for Indian buyers.