Investing.com - In pursuit of expanding its global footprint, Tesla Inc (NASDAQ:TSLA) is reportedly in talks with the Indian government regarding a potential investment plan, in order to establish an electric vehicle manufacturing facility on Indian soil. As per reports in the Times of India, this proposed factory may boast an impressive annual production capacity of up to half a million EVs.
The starting price point for these locally-made electric cars? Around 2 million rupees or approximately USD $24,400.
Although there has been no official statement from Tesla addressing these speculations yet, industry insiders are buzzing with excitement at the prospect.
This strategic move by Elon Musk and his team isn't solely focused on tapping into India's burgeoning market either. There's more to their grand scheme - they're considering using India as a springboard for exporting vehicles across the Indo-Pacific region too.
Last month saw Musk meeting Prime Minister Narendra Modi where he was encouraged to make significant investments within India. While details remain under wraps, it seems clear that both parties are keenly exploring opportunities that could redefine the country’s automotive landscape.