Key Points
Tesla will send a team from the United States to India by late-April to study sites for a proposed $2 billion to $3 billion electric car plant, the Financial Times reported on Wednesday, citing people familiar with the matter...
That caused Tesla to report a drop in its first-quarter deliveries and miss estimates...
The EV maker will focus on Indian states that have automotive hubs such as Maharashtra, Gujarat and Tamil Nadu, the report said.. Tesla did not immediately respond to a Reuters request for comment...
India last month lowered import taxes on certain EVs produced by automakers that commit to invest at least $500 million and start domestic manufacturing within three years, a move that was seen as bolstering Tesla's plans for the market...
Tesla's entry into the Indian market could spur more EV investments and benefit local auto parts makers, analysts have said.. Tesla officials have been in talks with government officials over the last year, with Musk meeting Prime Minister Narendra Modi in June...
