Tesla to start searching site in India for $2 bn-$3 bn electric car plant: Report

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Tesla's reported push into India comes at a time when EV demand is slowing in its main markets of the U.S. and China while competition there is heating up...

Electric vehicle giant Tesla is poised to send a team to scout locations in India this month for a potential $2 billion to $3 billion electric car plant, the Financial Times reported citing people familiar with the matter..

This move follows New Delhi's recent reduction in tariffs on higher-priced imported electric vehicles (EVs) for companies committing to domestic production within three years.s)..

Prime Minister Modi had previously urged Tesla CEO Elon Musk to invest in India during their meeting in the US last year..

Hindustan Times reported in January that Tesla was in advanced talks to enter the Indian market and may invest nearly $30 billion over the next five years..

Full story at Hindustan Times | 

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