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Tesla in talks with India to set up storage factory unit: Report

Tesla and the Indian government have been negotiating to establish a new EV plant to produce vehicles costing about $24,000. The company also intends to include the Powerwall idea.
PrashantPrashant23-Sep-23 1:39 PM
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Tesla in talks with India to set up storage factory unit: Report

According to reports, Tesla is developing plans to produce and market battery storage solutions in the nation. Elon Musk's business is said to have submitted a proposal asking for financial incentives to construct a plant. 


According to Reuters, Tesla recommended using its "Powerwall" technology, which stores energy from solar panels or grids for usage at night or during shortages, to assist India's battery storage capacity. The officials informed Tesla that the incentives it had requested to build its battery storage facility would not be granted. However, according to the article, the Indian government promised the corporation that by providing subsidies to individuals who buy such items, they would aid in the development of a fair economic model. 


The plan is apparently being evaluated by the government. 


Tesla and the Indian government have been negotiating to establish a new electric vehicle plant there to produce vehicles costing about $24,000. The company's intentions for a more extensive presence in India—something beyond

EVs

—include the Powerwall idea. The majority of India's electricity comes from coal-based power plants. India, on the other hand, wants to switch to non-fossil fuel electricity and aims to increase the capacity to 500 GW by 2030. 


Powerwall is a meter-high device that may be installed in a garage or on the exterior of a house and is intended for household and light business use. If the concept is successful, Tesla may provide more substantial solutions for the Indian sector. 


In California, a Powerwall costs over $5,500 (about Rs 45,000), plus additional fees for solar panels. According to reports, Indian officials advised Tesla to focus on bringing the price of its battery storage devices down.

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