Tesla to start operations in India next year – report – Reuters.com

[1/3] A Tesla store is shown at a shopping mall in San Diego, California, U.S., December 19, 2020. REUTERS/Mike Blake
Dec 28 (Reuters) – Tesla Inc (TSLA.O) will come to India early next year, country's transport minister Nitin Gadkari told national daily the Indian Express on Monday.
The electric-car maker will start with sales and then might look at assembly and manufacturing based on the response, the minister told the newspaper.
Tesla and the minister's office could not be reached by Reuters for comment.
India has been keen to reduce its oil dependence and cut down on pollution, but its efforts to promote electric vehicles have been stymied by a lack of investment in manufacturing and infrastructure such as charging stations.
The first model to be launched will be Model 3, the cheapest among Tesla vehicles, with prices starting at over $74,739 (5.5 million Indian rupees), according to a report in the Economic Times on Saturday. (https://bit.ly/355Y4i3)
Chief Executive Officer Elon Musk on Sunday confirmed India foray in 2021 in a reply on Twitter, but said it would not happen in January.
In October, the government of Maharashtra had invited Tesla to the state, weeks after Musk suggested entering the country next year.
View 2 more stories
Shares of the electric-car maker were up 2% in premarket trading.
($1 = 73.5050 Indian rupees)
Our Standards: The Thomson Reuters Trust Principles.
Children returning to school after an illness-ravaged December provided an unexpected, one-off boost to Britain's economy in January, when growth in output exceeded forecasts, data showed on Friday.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2023 Reuters. All rights reserved

source

Leave a Comment