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Pune welcomes Tesla: Company plans to set up manufacturing plant

EV Tesla executives proposed setting up an Indian facility to produce automobiles for a startling 25% cheaper than their current lowest-priced Model 3 sedan, which costs more than $32,200 in China.
PrashantPrashant3-Aug-23 9:51 AM
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Pune welcomes Tesla: Company plans to set up manufacturing plant

Just a week after meeting with Union Minister for Commerce and Industry, Piyush Goyal, Tesla India has taken a huge step forward by obtaining an office location in Pune.


A five-year lease has been signed, guaranteeing a great location in the Panchshil Business Park in Viman Nagar, Pune.


Since Elon Musk met with India's Prime Minister Narendra Modi in June, the meeting between Tesla and the commerce minister represented a significant turning point. Musk had stated his intention to make large investments in India at that discussion, and now it appears that Tesla is taking action.


According to sources,

EV

Tesla executives proposed setting up an Indian facility to produce automobiles for a startling 25% cheaper than their current lowest-priced Model 3 sedan, which costs more than $32,200 in China.


According to a different source, the next Tesla car is anticipated to cost $24,000, which will revolutionise the Indian EV industry.


Despite being the third-largest car market in the world, fewer than 2% of all automobiles sold in India are currently electric. However, Tesla's desire to create a production facility in India may completely alter the country's EV market.


The discussion with Minister Piyush Goyal is anticipated to concentrate on developing a strong EV supply chain and looking into alternatives for allocating land for manufacturing. Since the beginning of the year, Tesla has been actively cutting the pricing of its current models, and Musk has repeatedly emphasised the significance of sharply lowering EV costs for the company's long-term success.


The production costs of Tesla's next-generation car platform are expected to be reduced by a startling 50%. This platform, according to the business, will give rise to other models, including an autonomous "robotaxi." But for the time being, neither the specifications nor the cost of these next models have been revealed.


While Tesla presently manufactures electric vehicles in California and Texas, it has previously developed successful factories outside of North America in Berlin and Shanghai. Tesla's Shanghai facility has grown to be its biggest, contributing close to 40% of the company's global capacity.


With the office location in Pune set and negotiations with Indian officials moving forward, Tesla's entry into the country's EV market appears to be on track. The decision of the Indian government to not offer import tax breaks has further encouraged the corporation to look into local production options.

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